Huge Funding and Accenture Partnership for Alembic

Causal AI specialist Alembic has secured $145 million in Series B and growth funding, led by Prysm Capital and Accenture. It will also extend its collaboration with Accenture to help clients 'dynamically measure marketing effectiveness and use AI-driven insights to boost revenue.'

Alembic's platform allows users to measure nearly all their marketing activities in real time, and tie them to revenue outcomes - the firm claims its solutions represent a breakthrough in mathematically demonstrating causality in large datasets using composite AI. Its Series A round in February 2024 raised $14m and included celebrity backers Jeffrey Katzenberg (DreamWorks) and quarterback Joe Montana - the latest funding values the company at around $645m, approximately fifteen times more than the Series A.

The new round - in which Liquid 2 Ventures, NextEquity, Friends & Family Capital, WndrCo and SLW also participated - will allow Alembic to deploy a new DGX AI Supercomputing cluster, running the NVIDIA AI Enterprise software suite, allowing it to scale its provision of Causal insights as customer data 'exponentially.' The new cluster, which constitutes one of the most powerful privately-owned supercomputers ever built, is scheduled to go live by the end of the year.

'As powerful artificial intelligence models increasingly converge in capability, the key competitive advantage shifts to proprietary data,' says Alembic CEO and founder Tomás Puig (pictured). 'Getting a real edge isn't about using the best LLM; it's leveraging the unique information rivals can't access. The exclusive data a company generates protects its strategy from generic model outputs where two competitors could get the same answer. This ensures any key insights and market decisions come from a truly private intelligence engine.' Julie Sweet, Chair and CEO of Accenture, adds: 'Our clients are not just implementing AI: they are undergoing total enterprise reinvention, which hinges on trust and intelligence at the digital core. Alembic's Causal AI provides exactly that by moving the enterprise beyond correlation to deliver the verifiable, cause-and-effect insights leaders need to act with decisive speed.'

Alembic says its offer is differentiated from others by its ability to analyze complex data patterns as well as traditionally difficult-to-track channels such as sponsorships, events and the influence of organic social posts. Recent market changes and events such as changing public policy can also be modelled to establish impact. According to Arun Kumar, Global Customer AI and Data Lead at Accenture Song, this will make the new partnership between the two companies 'a paradigm shift in measurement.' He comments: 'Alembic's capabilities complement existing approaches, such as market mix modelling, but now with seemingly limitless variables that can be analyzed. Where measurement has often been seen as an afterthought, Alembic lets us see both the big picture and the details.'

Web site: www.getalembic.com .

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