Miami Startup Unveils Attribution Platform with Future-Proof AI as Apple & Google Phase Out Pixels and Other Technologies
MIAMI, FL / ACCESSWIRE / March 15, 2023 / Prescient AI, a marketing attribution platform to optimize ad spend on the privacy-first internet, announced today that it has raised $4.5M in Seed funding led by Blumberg Capital, the first investor in industry leaders including Braze, DoubleVerify and Yotpo. CEAS Investments, Darling Ventures, and notable DTC executives such as Troy Osinoff also participated.
Founded by SaaS veteran Mike True and Cody Greco, who ran global Research Science and Machine Learning for Grubhub, Prescient will use the funding to deploy new AI capabilities that empower marketers to confidently optimize ad spend. The Prescient platform, which is now open to DTC brands, offers campaign-specific revenue attribution and bespoke insights, called halo effects. These insights allow users to understand how search traffic and direct visits to a brand's web store are impacted by digital spend across Facebook, TikTok, Pinterest, Snap, Youtube, and even Google's shopping campaigns, like PMAX.
Privacy-first internet is here and only getting stronger. Advancements like the sunsetting of user-tracking techniques including marketing cookies, pixels and Apple's IDFA, along with the introduction of technologies like Apple Private Relay and Google One VPN are accelerating. These changes are crippling marketers' ability to accurately measure the impact of their paid campaigns, resulting in higher acquisition costs and wasted spend.
"Prescient lets brands leapfrog over their competitors, who continue to rely on these fading technologies," said Prescient CEO Mike True. "Pixel-based solutions are putting a short-lived bandaid over a long-term spending problem. Prescient is creating a 'future-proof' approach to attribution, leveraging machine learning to empower marketers to make unbiased, clear-eyed decisions about how to use their marketing budgets."
The company is also solving ongoing marketing challenges: long implementation times for existing attribution platforms and the unreliability of platform-native reporting tools. "We tried another attribution tool before Prescient and lost valuable time and campaign budget during the cumbersome onboarding and the 4-6 week pixel learning window," said Andy Wang, Managing Partner for KC Lights, the original maker of off-road lights. "Prescient made it easy to connect all our channels and we were able to dig into our campaign performance in under 48 hours."
With the exponential adoption of privacy-first technologies and attribution platforms that haven't caught up, marketers continue to struggle with confidently scaling spend. "We knew last-click attribution wasn't accurate, and struggled to find a solution offering an alternative," said Prescient client Andy Jeong, Head of Growth Marketing for Aviron Interactive, makers of the smart rowing machine that recently raised $18M in Series A funding. "Prescient's platform lets us confidently validate new channels and identify and expand effective campaigns across multiple platforms."
"The lack of trust and transparency across digital marketing attribution has been an ongoing problem, and recent technology and regulatory changes have made it even more complex," said Bruce Taragin, Managing Director at Blumberg Capital and Prescient's newest board member. "The Prescient team has developed a solution that truly stands out among existing solutions that rely on outdated and unfavorable identity and device tracking. We believe Prescient's unique technology is a long-term, scalable solution for the growing pain points across the digital marketing landscape. We are excited to help them deliver on their vision and welcome them to our portfolio of marketing technology innovators."
Within 36 hours, brands can view omni-channel insights on campaign performance from trained and backtested attribution models. Brands can visit prescient-ai.io for a free trial and connect all their marketing channels in a one-time 10-minute onboarding.
Prescient AI was started by Michael True and Cody Greco, who set out to solve marketing attribution challenges in the new world of privacy-first internet. The Prescient platform leverages one-of-a-kind probabilistic models to enable DTC brands to confidently forecast the impact of ad spend and uncover their most effective campaigns. Built on the philosophy that consumers' privacy matters, Prescient believes marketers still deserve the ability to run effective brand advertising. That requires tools for unbiased attribution, understanding how ad spend affects other channels, and optimizing campaigns across every platform.
SOURCE: Prescient AI