Today AI co-pilot for marketers Arcane announced that it has raised a $5 million seed round.
Marketing teams today face multiple difficulties in their workflows. Most teams work across disparate tech stacks - the average enterprise uses 91 marketing tools - to deal with large amounts of data across different channels simultaneously.
In response, Arcane has created the first knowledge base for marketers that combines everything they need — data, metrics, assets, targeting parameters — in one platform.
By integrating with content, organic, paid, social and email marketing channels, Arcane’sArcane' AI co-pilot supports marketers in the background by automating the most mundane tasks, assessing and reporting back in real-time on their campaigns, and recommending the next steps.
This saves marketers and their businesses crucial time and money and improves the quality of decision making.
According to Ben Hacking, co-founder and CEO at Arcane:
"The vast majority of marketers' time is spent on work other than copy generation, so we see significant potential in augmenting and automating these tasks.
To do this, we've combined the latest AI technologies (retrieval augmented generation, autonomous agents and multi-modal models) to chain together workflows that capture more of marketers' repetitive activities, giving them time back to focus on higher impact tasks.
We're excited to continue on this mission with this new investment round and having the Accel team join us on this journey."
Sonali De Rycker, Partner at Accel, said:
"Digital marketing has evolved into a multi-hundred billion dollar industry, yet there remains a sizable opportunity for a platform like Arcane.
Having experienced first-hand the frustrations of performing repetitive, time-consuming day-to-day tasks, Ben and Jeremy are ideally positioned to build a platform that will transform the modern marketing workflow.
We've been incredibly impressed by the cutting-edge AI automations built into Arcane, and we believe that the platform has the potential to radically change how marketers operate everywhere.
The funding was led by Accel, with participation from Cocoa, Firstminute Capital, Kima Ventures and Seedcamp. Angel investors, including Meta's VP Product for generative AI Connor Hayes, Monzo founder Tom Blomfield, Supercell CEO Ilkka Paananen and WeWork President Anthony Yazbeck also participated in the round.
The funding includes a previously unannounced $1 million Pre-Seed round, and will be used to expand Arcane's engineering and data teams, and further develop the platform's AI functionalities ahead of its open beta later this year.
Lead image via Claid. Photo: uncredited.