Tech startup raises $2M in growth capital funding
INDIANAPOLIS, Ind. (Inside INdiana Business) – Pattern89 in Indianapolis has raised $2 million in growth capital funding to support its mission to inspire and emphasize creativity among brands and marketing agencies. The artificial intelligence and technology marketing company says the funding will help catalyze its growth after increasing its customer base by 300% over the last year.
The company says the funding round included participation from Break Trail Ventures in Ohio, High Alpha Capital and Elevate Ventures in Indianapolis, Atlanta-based F&M Investments, and Vitalize in Westfield. The company plans to use the funding for growing go-to-market data science and engineering functions and expanding its current product line.
“This funding will allow us to continue improving our technology to gain more insights into the elements that drive advertising success – like colors, video dimensions, copy sentiment and more – and empower marketers to accurately predict what will work for their digital creative, rather than guessing at what might work,” said R. J. Talyor, chief executive officer and founder of Pattern89. “We are grateful our investors share our belief and vision in the future of creative AI in marketing.”
Pattern89 says as algorithms increasingly dictate marketing strategies, its technology can determine what elements of ads perform best based on creative effectiveness.
“Pattern89 has seen tremendous growth and success over the past year, and High Alpha is excited to be doubling down on our investment in R. J., the Pattern89 team and the future of marketing AI,” said Eric Tobias, partner at High Alpha. “Pattern89 is leading marketers into the future of AI-led creative performance, which is especially critical today as COVID-19 has disrupted online behaviors and existing social algorithms.”