US-based creative testing platform Marpipe announced on Wednesday that it has raised $8 million in its latest Series A funding round from some big name investors.
Founded in 2019 by Dan Pantelo, Marpipe is the first platform in the world that automates the creative testing process for marketers. Using artificial intelligence, it generates thousands of variations of an ad creative and tracks their conversion data so that brands and agencies can easily decide which ads bring the best results and why.
The company’s Series A funding round was led by Stage 2 Capital with participation from Samsung, ValueStream Ventures, Commerce Ventures, Ripple Ventures, Laconia Capital Group and more.
Marpipe’s key investors that took part in the round include Mark Roberge, Hubspot’s former CRO and Stage 2 Capital’s current partner, Greg Coleman, former President of BuzzFeed, HuffPost and Criteo, Ari Paparo, Beeswax’s founder and CEO and FreeWheel’s Head of Partnerships & Strategy, Brendan Gahan, CEO of Mekanism, and Eric Franchi, founder of Undertone.
The company said that it would use the funding money to improve its creative testing operating system, centralize their data in one place and triple its team size by the next year.
“Creatives and marketers know that testing ad creative is one of their most important activities, but for many decades, the workflow behind creative testing has remained entirely manual with minimal actionable learnings,” said Dan Pantelo, Marpipe’s founder and CEO. “This new funding will significantly further Marpipe’s efforts to build the tech stack that enables creatives to predictably deliver winning ad creative.”