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Silicon Valley Bank Closes $30MM in Financing for AI Marketing Innovator Persado

October 30, 2017, 07:00 AM
Filed Under: Marketing

Persado, a provider of AI-generated marketing language for top global brands, unveiled the expansion of its marketing language cloud and introduced Persado One, a feature that enables personalized emotional engagement at scale. Presenting at VentureBeat's VB Summit 2017, the company also announced the closing of up to $30 million in financing from Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors.

Representing the most significant advancement to date of Persado's artificial intelligence platform, Persado One facilitates an entirely new way for brands to build relevant and lasting relationships at the individual level with their customers. Persado One utilizes deep learning algorithms to create an emotional profile for individual customers based on previous campaigns, then generates corresponding language to personalize the message. The feature is available through Persado's Enterprise level of service.

Persado is also introducing a professional class of tools initially focused on the email and social media channels. Marketers will be able to: predict response rates; generate higher performing campaigns according to objective, industry, and KPIs; and refine language according to a brand's tone, style, and vocabulary.
The financing from SVB will fuel the expansion of the Persado Marketing Language Cloud and further the rapid growth of the business. Persado's significant momentum has been driven by the continued support of its valued customers, a 360% increase in its user base since 2016, key integration and go-to-market partnerships with leading marketing platforms including Oracle, Salesforce, Cheetah Digital, and Oracle+Bronto, and market expansion in Europe, Australia, Mexico, Japan, and the Republic of Korea.

Said Alex Vratskides, Co-Founder and CEO, Persado, "We are grateful to have the longstanding support of Silicon Valley Bank. As a bank built around supporting innovation, Silicon Valley Bank is the ideal partner in our drive to challenge what's possible in applying an industry-leading AI technology to marketing and beyond."

"We're pleased to work with Persado during this exciting time in the company's growth," said Adam Millsom, Director, Silicon Valley Bank. "Persado is using AI in an innovative way for marketers to find the right content for their audience, and we're enthusiastic about the company's initiatives and the future applications of their technology. Our aim is to provide the best financing, connections, and global services to facilitate Persado's success."

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