London-based AI analytics startup Aiden.ai has raised $1.6m (£1.22m) in seed round funding to launch its "AI-powered marketing analyst".
The tool aims to take the burden off mobile app marketers by using machine learning (ML) to analyze large sets of paid advertising data and enhance marketing campaigns to offer a better ROI. Its mission is to simplify the experience of managing multichannel paid acquisition campaigns, taking "the burden from mobile app marketers", according to its website.
"Today's performance marketers are bogged down with data coming from multiple sources," said Marie Outtier, CEO of Aiden.ai. She referred to the product as "a new generation of software, one that listens, learns and acts."
Aiden.ai was co-founded in 2016 by Outtier, who has extensive experience in mobile marketing and technology, and the company's chief technology officer PJ Camilleri who has previously spent a decade working for Apple on natural language processing (NLP) and virtual assistants.
The successful round of seed funding brings Aiden.ai's total funding to $2.35m (£1.784m), as it raised a $750,000 (£570,000) in March 2017 in initial pre-seed funding. This second funding round was led by global investment firm Partech, with other notable investors including Nicolas Pinto, founder of Apple-acquired AI startup Perceptio, and Sophia Bendz, the previous head of marketing at Spotify.
"We believe Aiden.ai is building an innovative solution for marketers at precisely the time it is needed most," stated Reza Malekzadeh, a partner at Partech. "Marie and PJ's vision for the future of data and analytics harnesses the recent advances in the fields of ML and NLP to create a tool that is set to change the way marketers do their job."