Former Adobe CTO Raises $65 Million To Help Businesses Generate Marketing Content With AI
AI is revolutionizing the way businesses create marketing content. Former Adobe Chief Technology Officer Abhay Parasnis has raised a whopping $65 million to help companies leverage artificial intelligence (AI) for creating and managing their marketing content.
The funding round was led by venture capital firm Accel, with participation from existing investors including Sequoia Capital India, Lightspeed Venture Partners, and Y Combinator. The new funds will be used to expand the team at Pramata, Parasnis’s startup that helps businesses generate marketing content using AI-driven insights.
Parasnis founded Pramata in 2014 after leaving his post as CTO of Adobe Systems Inc., where he had worked since 2005. He wanted to use technology to solve one of the biggest challenges facing marketers: generating high-quality content quickly and efficiently while staying on top of customer data changes such as pricing updates or product launches.
Pramata uses machine learning algorithms to analyze customer data from multiple sources such as CRM systems, ERPs, billing platforms, etc., and then generates customized marketing materials based on this information. This allows marketers to create personalized campaigns tailored specifically for each customer segment without having to manually comb through large amounts of data every time they need an update or launch a new campaign.
By leveraging AI-driven insights into customer behavior patterns across different channels like email campaigns or social media posts, Pramata can also provide valuable feedback about how customers are responding to certain messages or promotions so that marketers can adjust their strategies accordingly in real time.
In addition to helping businesses generate more effective marketing materials faster than ever before, Pramata also provides analytics tools that allow them track performance metrics over time so they can make informed decisions about which tactics are working best for them and which ones need improvement going forward.
“We believe that our platform is uniquely positioned within the enterprise software landscape because it combines deep domain expertise with cutting edge technologies like natural language processing (NLP), computer vision (CV), predictive analytics & machine learning,” said Parasnis in a statement announcing the funding round.”Our mission is simple – we want every business user who interacts with customers via digital channels — whether it’s sales reps sending emails; call center agents taking orders; or even chatbots engaging prospects —to have access powerful insights derived from our platform.”
With this latest injection of capital into its coffers ,Pramata looks set up for success in its mission help companies better understand their customers through AI-generated insights . It remains be seen how far these efforts take them but one thing’s certain – Artificial Intelligence is here stay when it comes creating effective marketing material .
Forbes
