Silicon Valley Bank Extends Credit Line of Up to $30M to Fuel Growth
October 24, 2017 – NEW YORK – Today, Persado, the leading provider of AI-generated marketing language for top global brands, unveiled the expansion of its marketing language cloud and introduced Persado One, a feature that enables personalized emotional engagement at scale. Presenting at VentureBeat’s VB Summit 2017, the company also announced the closing of up to $30 million in financing from Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors.
Representing the most significant advancement to date of Persado’s artificial intelligence platform, Persado One facilitates an entirely new way for brands to build relevant and lasting relationships at the individual level with their customers. Persado One utilizes deep learning algorithms to create an emotional profile for individual customers based on previous campaigns, then generates corresponding language to personalize the message. The feature is available through Persado’s Enterprise level of service.
Persado is also introducing a professional class of tools initially focused on the email and social media channels. Marketers will be able to: predict response rates; generate higher performing campaigns according to objective, industry, and KPIs; and refine language according to a brand’s tone, style, and vocabulary.
“The debut of Persado One and the expansion of Persado’s marketing language cloud solutions mark an important milestone for our company as we continue to reach a broader audience of marketers with tools to directly impact their business,” said Assaf Baciu, Co-Founder and SVP Product & Engineering, Persado. “These innovations are reflective of Persado’s success in generating ROI for the world’s leading brands and increasing marketplace demand.”
Persado is available via the following product levels:
- Persado Enterprise: Persado Enterprise yields highest rates of performance for marketing organizations through customized messages and actionable insights for all channels including email, display advertising, social advertising, landing pages, SMS, push notifications, direct mail, and more, in as many as 23 languages. With enough campaign data, brands can unlock the omnichannel personalization capability of Persado One within the Enterprise offering.
- Persado Professional: Persado Pro offers cloud-based tools that empower individual marketers with fast and flexible access to predictive and data-driven message generation capabilities. Pro Email instantly generates high-performance language for email subject lines with integrations to major email marketing platforms. A starter edition of Pro Email leverages nearly a decade of machine learning to scientifically predict the performance of a subject line, compared to the rest of the industry or a brand’s own dataset. Pro Social instantly generates paid ad units for Facebook, including headlines, image text overlays, and images that emotionally engage an audience.
The financing from SVB will fuel the expansion of the Persado Marketing Language Cloud and further the rapid growth of the business. Persado’s significant momentum has been driven by the continued support of its valued customers, a 360% increase in its user base since 2016, key integration and go-to-market partnerships with leading marketing platforms including Oracle, Salesforce, Cheetah Digital, and Oracle+Bronto, and market expansion in Europe, Australia, Mexico, Japan, and the Republic of Korea.
Said Alex Vratskides, Co-Founder and CEO, Persado, “We are grateful to have the longstanding support of Silicon Valley Bank. As a bank built around supporting innovation, Silicon Valley Bank is the ideal partner in our drive to challenge what’s possible in applying an industry-leading AI technology to marketing and beyond.”
“We’re pleased to work with Persado during this exciting time in the company’s growth,” said Adam Millsom, Director, Silicon Valley Bank. “Persado is using AI in an innovative way for marketers to find the right content for their audience, and we’re enthusiastic about the company’s initiatives and the future applications of their technology. Our aim is to provide the best financing, connections, and global services to facilitate Persado’s success.”
Since its founding in 2012, Persado has empowered brands to provide insight into how consumers respond to their messages in different scenarios (e.g. via email, to renew a prescription online; via Facebook ad, to drive an app install).
Persado is the Marketing Language Cloud: AI-generated language that resonates the most with any audience, segment, or individual. Imagine having a copywriter and data scientist for each person in your audience; the platform generates the precise language that performs along with analytics detailing what drove response, resulting in better business outcomes and unprecedented insight into consumer engagement. Comprised of the world’s largest marketing language database, with over a million organized, tagged, and scored words, phrases, and images, Persado’s Marketing Language Cloud enables brands to increase acquisition and retention while building long term consumer relationships.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
Silicon Valley Bank
Julia Thompson, Public Relations
Eva Pullano, LaunchSquad for Persado