Early Funding for Media Mix Modeling Firm OutPoint

In Canada, data science platform OutPoint, which helps marketers allocate media budgets through automated media mix modeling (MMM), has raised $1.2m in a pre-seed round of funding. The money will use to expand its team, especially across the Research and Engineering functions.

The firm, which was founded in January by CEO Rob Palumbo and CTO Sean Billings, uses machine learning and MMM to help consumer growth teams map ad spend to revenue based on incremental lift and predicted performance. The firm's predictive models then recommend how much to increase or decrease ad spend across channels.

New funding has been led by San Francisco-based venture capital firms Tuesday Capital and MGV, with participation from Entrepreneur First and Mistral Venture Partners and several angel investors. David Jee, Associate at Tuesday Capital, comments: 'Tools for optimizing ad spend have never been more important to the success of DTC brands with Apple taking measures to restrict pixel and cookie-based tracking. We're proud to support Rob, Sean, and the team as they build the growth data science tools of tomorrow.'

Web site: www.outpoint.app .