London-based marketing tech firm Phrasee, that uses artificial intelligence to create marketing copy, has secured £3m as it scales up in the United States.
Albion Capital Group LLP led the round, with follow-on funds from existing investors including digital communications business Next Fifteen and angel syndicate Galvanise Capital.
The investment comes as Phrasee looks to expand internationally, which includes scaling up its new US operation in San Francisco and expanding its UK team.
Phrasee, which counts Virgin, Domino’s, Superdry and The Times amongst its clients, is the market leader in AI marketing language generation.
It combines natural language generation and deep learning to arm marketing teams with extra brand-compliant copywriting capacity.
The AI writes email subject lines, Facebook & Instagram ads, and push notifications that consistently perform better than human-written versions.
Parry Malm, Phrasee co-founder and CEO, said: “From day one, our vision has been to transform how brands speak to their customers online.
“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.
“The investment from Albion and the experience it will bring to the board will supercharge our global ambitions.”
Phrasee was recognised by US-based CB Insights as 2017’s Most Innovative AI Company.
More recently the firm launched its AI ethics policy, one of the world’s first AI businesses to do so, highlighting the importance of transparency in how their technology and data will be used.
Emil Gigov of Albion Capital, who will be joining Phrasee’s board, said: "We have a solid track record of supporting the expansion of high-performing UK businesses into the US and understand the formula for long-term success.”
“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."
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