Funds and Launch for Prescient

In the US, media measurement and optimization firm Prescient AI has secured $10m in Series A funding, with which to further develop its product, expand sales and add new media channel integrations. It has also enhanced its attribution model to measure the halo effects of campaigns on sales in the Amazon marketplace.

Prescient uses first-party data and proprietary machine learning models to accurately determine both the direct impact of ads that users engage with, and the 'halo effects' when consumers see ads but don't click. Models are specifically tailored for each individual brand to attribute all of the omnichannel revenue across the entire media mix, and the system also forecasts the outcome of future spend with 'rigorous' backtesting techniques.

The firm seeks to improve on traditional Marketing Mix Modeling solutions, allowing connection of sales and marketing channels 'in minutes' and providing actionable campaign performance insights 'in a matter of days'. Daily reports allow marketers to continuously optimize budget allocation to maximise ROI.

The new funding was led by headline and CEAS Investments, while existing investors Blumberg Capital and Focal VC also participated.

Co-founder and CEO Michael True comments: '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'.

Web site: www.prescient-ai.io .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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