Funds for Marketing Data Science Platform Recast

In New York, automated marketing data science platform Recast has raised $3.4m in a follow-on seed funding round, which it will use to scale its software engineering and data science teams.

Founded in 2018 by Michael Kaminsky and Thomas Vladeck, Recast provides near-real-time marketing mix modeling, forecasting and planning tools. The firm uses artificial intelligence and Bayesian statistical methods to automate processes that it says used to take hundreds of data-science hours to do by hand.

New funding was led by venture capital fund Lerer Hippeau and was a follow-up to a previously undisclosed $1.1m pre-seed round led by Good Friends last year. Also participating in the new round were Data Tech Fund, Vibe Capital, and industry execs < 24297>Jonah Goodhart (co-founder of brand advertising platform Moat) and former Uber exec Adam Grenier.

Caitlin Strandberg, Partner at Lerer Hippeau, comments: 'Tom and Michael both have incredibly impressive technical expertise combined with a deep knowledge of marketing and the problems modern marketers face when measuring performance. They've built a seasoned team of PhD-level statisticians and experts in high performance computing and computational probability to build a truly cutting-edge platform, automating tasks that used to take trained data scientists hundreds of hours'.

Web site: www.getrecast.com .