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Posted on August 31, 2018 by staff

AI marketing tech company lands $4m for US expansion

A London-based company which uses artificial intelligence to write marketing copy that is ‘better than humans’ has raised $4 million.

Phrasee said the investment will allow it to expand product development, create additional UK jobs and grow its new US operation in San Francisco.

The round was led by Albion Capital Group, with participation from existing backers including global digital communications business Next Fifteen PLC (Next 15) and angel syndicate Galvanise Capital.

Phrasee counts Virgin, Domino’s and The Times among its clients and has recently announced new customer wins with River Island and Superdry.

The firm’s AI writes email subject lines, Facebook & Instagram ads and push notifications which it claims perform better than human-written versions.

“From day one, our vision has been to transform how brands speak to their customers online,” said co-founder and CEO Parry Malm.

“Having built awesome relationships with some of the most progressive brands in the UK, we’re now ready to take our AI technology and approach to the US market.”

Malm added that the $4 million investment will “supercharge” Phrasee’s global ambitions.

As part of the deal, Emil Gigov of Albion Capital will be joining Phrasee’s board.

He added: “Based on Phrasee’s commercial track record to date, client-focused culture, product leadership and the calibre of its ever-expanding team, we believe the company has an incredible future and are proud to be part of this next phase in its growth story.”