Prescient AI, an AI-powered media measurement and optimization company that saw over 30x revenue growth last year, announced it raised $10 million in Series A funding, led by Headline and CEAS Investments. Blumberg Capital and Focal VC, the previous investors, also joined the round.
Brands such as GOOD AMERICAN, HexClad, Cozy Earth, and Nood use the Prescient AI platform to predict profitability and maximize revenue generated by ad campaigns and have seen an increased return on ad spend (ROAS) by about 20% on average.
Prescient AI utilizes first-party data and proprietary machine learning models to determine the direct impact of ads users engage with and the halo effects consumers see but do not click on. These models are tailored for individual brands to attribute all the omnichannel revenue across the media mix. Prescient AI also estimates the outcome of future spending with backtesting techniques to provide accuracy and confidence scores with each platform recommendation.
With brands adding new revenue channels and digital marketing growing more complicated, user-level tracking is becoming more restricted due to consumer data privacy protections. So, it cannot figure out buyer click paths using platform-reported data or multi-touch attribution (MTA) methods that are still commonly used today. As a result, marketers have to make critical spending decisions based on incomplete performance reports.
Prescient AI also launched early access to an evolution of its attribution model that measures the halo effects of ad campaigns on sales in Amazon. Instead of clicking and navigating to a brand’s website after seeing an ad, many consumers search for the items on Amazon. Brands trying to capture those customers by adding Amazon as a sales channel need insights into how marketing drives revenue through Amazon as well as their direct-to-consumer-owned sites.
Prescient AI was built to avoid high costs, integration complications, and delayed time to value commonly associated with Marketing Mix Modeling (MMM) solutions of the past. The sales and marketing channels can be connected to the Prescient platform in minutes, and actionable campaign performance insights are revealed in a matter of days. The daily insights enable marketers to optimize budget allocation and how every dollar is spent where it will return the most value.
KEY QUOTES:
“Before working with Prescient AI, we were confident in our monthly channel allocations but needed daily insights we could trust to shift our ad spend at the campaign level. Using the platform’s suggestions during our crucial Q4 period resulted in a 30% increase in ROAS and an 85% increase in revenue generated by our media campaigns.”
– Cameron Bush, Director of Growth Marketing for HexClad, a leader in the cookware category
“Every marketer wants to know exactly where to spend to get the best results, but reliable answers are difficult to pinpoint and they continuously change with the business environment. Prescient AI has proven its advanced AI solutions will consistently deliver accurate results and recommendations that brands can trust. They are the experts building for the future of media optimization and we are thrilled to welcome Prescient AI to the Headline portfolio.”
– Taylor Brandt, Vice President at Headline
“For decades, the marketing analytics industry has been distracted by the promise of tracking pixels and click-based attribution models, but marketers don’t need user-level tracking to get reliable insights. Whether it’s new privacy policies, updates to platform technology, or shifts in consumer behavior, the Prescient AI-trained models don’t weaken with change, they learn from it.”
“With this new funding we will continue expanding our platform to vastly increase our sales and media channel integration coverage. And to keep delivering product enhancements that allow our customers to make confident budget decisions.”
– Michael True, CEO and Cofounder at Prescient AI
“CEAS is very proud to continue backing the team at Prescient AI, who have demonstrated that they are building the next generation of marketing mix optimization tools for ecommerce brands. Unlike anything else on the market, their AI solution gives pinpointed recommendations, while considering and quantifying the impact of cross-channel awareness via halo effects.”
– Ronnie Martinez at CEAS Investments
