How far does a marketing dollar go? A San Francisco startup using artificial intelligence to answer that question just landed millions in new funding from 49ers legend Joe Montana and DreamWorks co-founder Jeffrey Katzenberg.
Alembic Technologies announced a $14 million Series A round on Thursday that was led by Katzenberg's venture capital firm, WndrCo.
Joe Montana's VC firm, Liquid 2 Ventures, also participated in the round along with MXV Capital.
The company declined to provide its valuation but confirmed that it previously raised a $4.7 million seed round in addition to some other convertible notes. That would bring Alembic's total funding to at least $18.7 million.
Alembic also announced that Nvidia is one of its customers.
“Our customers say, before Alembic, what they used to evaluate marketing was like an ultrasound that only looked at one part of the body. Alembic is like a full body MRI scan that shows you a holistic view with much greater detail and precision,” Alembic CEO Tomás Puig said in a statement.
Puig co-founded Alembic in 2018 with Chief Creative Officer Seth Little and Chief Innovation Officer John Adams.
The company says it uses anonymous, aggregated data and artificial intelligence to analyze consumer behavior in a way that resembles the way public health officials used contact tracing to monitor the spread of Covid-19.
“You can think about it as a giant point where every human is somebody you could connect the dots with,” Puig told Venture Beat. “What we do is predict where the connections will occur [using] huge amounts of data.”
Marketing technology was a $329 billion sector in 2022 and is expected to become a $1.7 trillion market by 2032, according to a recent report from Allied Market Research.
