AI MarTech firm Programmai secures over $1m
Posted on October 1, 2020 by Alistair Hardaker
Programmai has raised more than $1m (£850,000) in seed investment and added industry heavyweights to its growing team.
The London firm uses predictive technology to help brands improve their ability to acquire new and repeat customers.
It says it plans to use the investment to scale both revenue and product development.
Senior figures participating in the new round of investment include Paul Cooper, formally a partner at Clarity, who joins as Chairman; and, Tim Brown, former CEO of both Maxymiser and Touch Clarity who will also join the board.
In addition to the new investment, the Programmai team has been bolstered by the appointment of Andrew French as Chief Revenue Officer and Libo Shen, previously responsible for the reliability architecture of Google Shopping, who becomes Head of Engineering.
Programmai founder and CEO Dean Murr said:“This investment, coming at a time when economic uncertainty is causing some to hold back on investing in tech start-ups, is a massive vote of confidence in the future of Programmai. We have already proven the value hypothesis of Programmai and we are now in a position to scale the business.
“We will continue to invest in both product development and growing our client base to enable us to advance our presence in the UK market. Our first task is to complete a more sophisticated front-end platform that will add functionality to our offering and enable our clients to do more with Programmai for themselves.”
New Chairman Paul Cooper added: “Programmai has built a product that provides a significant cost advantage to clients at a time when companies desperately need to improve marketing efficiency. Dean has assembled a first class team and I am delighted to be joining them on the journey.”