Persado, a NYC-based cognitive content generation platform, closed $30m Series C financing.
The round was led by Goldman Sachs, with participation from previous investors Bain Capital Ventures, StarVest Partners, American Express Ventures and Citi Ventures. In conjunction with the funding, Mark Midle of Goldman Sachs’ Merchant Banking Division, joined Persado’s board of directors.
The company intends to use the funds to continue investing in distribution and product development, expand into more digital channels and other sectors beyond marketing, such as pharmaceutical adherence, fitness and personal motivation, civic engagement, human resources, etc.
Led by Alex Vratskides, CEO and co-founder, Persado provides a platform that generates content for display ads, Facebook, email, website landing pages, SMS, and mobile push notifications. The solution, used by brands such as Citi, MetLife, Microsoft, Neiman Marcus, Staples and Verizon Wireless, employs natural language processing and machine learning algorithms to generate the precise combination of words, phrases and images that motivate any audience, at scale, in real time.
Headquartered in New York City, the company has locations in San Francisco, Athens, London, Rome, Toronto, Frankfurt, Rio de Janeiro, and Lagos, employing more than 200 people.