Alembic, the leading holistic marketing attribution platform for enterprises, announced it received $14 million in series A funding. The round was led by WndrCo, the venture capital firm started by DreamWorks founder Jeffrey Katzenberg. Existing investors MXV Capital, the venture capital firm started by Braze founder Mark Ghermezian, and Liquid 2 Ventures, the venture capital firm started by Joe Montana, also participated in the round.
Alembic will use the funds to enhance its engineering capabilities, broaden its product range and accelerate client acquisition.
Alembic’s software predicts revenue and ROI from marketing, applying AI and mathematics developed during the pandemic for identifying causes, treatments and mortality in disparate data and populations. Alembic analyzes and evaluates unstructured and complex data to predict marketing ROI and future revenue based on the results. Alembic is proud to have Fortune 200 and top brands as customers, including NVIDIA, Texas A&M and North Sails.
Justin Wexler, who led the investment for WndrCo and joins Alembic’s board of directors, said, “At WndrCo, we continually ask Fortune 500 CMOs about their top challenges. The most common response is around proving the effectiveness of marketing spend. Our investment in Alembic is the culmination of our search for a company that solves this problem. We are looking forward to partnering with Alembic’s brilliant team to bring the power of AI and cutting-edge statistics to the marketing organizations behind the world’s leading brands.”
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Using only anonymous and privacy-respecting aggregate data, Alembic accurately models marketing results and proves quantitatively how value is generated by marketing and sales activity. Alembic provides a real-time view to optimize all marketing activity and sales funnel movement. The Alembic platform leverages unstructured data from TV, radio, social media, out-of-home, sponsorship and digital marketing to predict revenue and profit for its customers. The visibility and transparency of marketing spend and outcomes facilitates reporting, informs strategy and breaks down silos between marketing, finance and business operations.
“Our customers say, before Alembic, what they used to evaluate marketing was like an ultrasound that only looked at one part of the body. Alembic is like a full body MRI scan that shows you a holistic view with much greater detail and precision,” said Tomás Puig, Alembic co-founder and CEO.
“Deploying AI allows companies to increase productivity in ways not possible before,” said Jensen Huang, founder and CEO of NVIDIA. “Alembic is using AI developed for scientific research applications to predict ROI from marketing. NVIDIA marketing is using Alembic with great success.”
“Alembic has a breakthrough solution for a problem I’ve seen throughout my career: Measuring results from marketing initiatives. WndrCo is thrilled to lead the series A round for Alembic and enable the company to introduce its innovative solution to a wider audience. All enterprise marketing organizations should consider Alembic to solve this problem in marketing,” said Jeffrey Katzenberg, founding partner, WndrCo.
SOURCE: Businesswire