California-based tech startup Pixis, which provides codeless AI infrastructure to enable customers to scale accurate data-driven marketing, has secured US $100 million in Series C funding. The round was led by SoftBank Vision Fund 2, paving the way for the partial exit of early investor Exfinity Venture Partners.
New investor General Atlantic and existing investors Celesta Capital, Premji Invest, and Chiratae Ventures (Formerly IDG Ventures India), also participated in the funding round, said Pixis, formerly Pyxis One, in a statement.
With the close of its US $17M Series B round just four months prior, Pixis has raised a total of US $124M to date since its inception in 2018. The startup will leverage the fresh funds to scale its AI platforms and plugins rapidly. The funds will also be deployed to boost its expansion across North America, Europe, and India.
With codeless AI, marketers are benefitting the most
Pixis, founded in 2018 by Shubham Mishra, Vrushali Prasade, and Harikrishna Valiyath, has witnessed a 600 percent growth. The startup is uniquely poised to disrupt marketing to make it more agile and data-backed, especially in a world that is speedily heading towards a cookieless web.
Shubham Mishra said, “The web going cookieless, in conjunction with decreasing access to the depth of data that was previously available, is a problematic situation for marketers. In this environment, it is self-evolving neural networks that are proving to be invaluable assets in countering the disruptions to the marketing landscape.”
The startup provides codeless AI infrastructure that currently comprises dozens of proprietary AI models deployed across a robust ecosystem of products.
This ecosystem enables CMI professionals, creative professionals, and marketers to collaborate seamlessly to scale marketing against the backdrop of rich consumer and market insights.
Having The SoftBank Vision Fund 2 investment in Pixis confirms that Artificial Intelligence could be the big differentiating factor for brands in a cookieless world.
Customers using the platform witnessed lower acquisition costs
In the future, the company plans to add over 200 customizable self-evolving AI models to the infrastructure it offers and has already introduced close to four dozen AI models since its last funding.
The startup claims that its customers using its platform have witnessed a 20 percent decrease in acquisition costs on average, in addition to at least 300 hours of manual work saved per month.
However, the appealing factor for customers is the prospect of activating AI in 8 seconds without having to write a single line of code.
Priya Saiprasad, Partner at SoftBank Investment Advisers, said, “Marketing is one of the largest spending categories for companies, but many of its decisions are still driven by intuition rather than data.”
“Pixis has developed an end-to-end codeless AI infrastructure that equips teams with cutting-edge data science to automate and improve core processes, from budget allocation to real-time campaign optimization and reporting. We are excited to partner with Shubham and the team to support their mission,” added Saiprasad.