Insider, a global marketing technology platform that uses artificial intelligence, raised $500 million in a funding round led by General Atlantic — a cash influx that will support plans to expand its business in the US. 

The startup, co-founded in Istanbul in 2012 by Chief Executive Officer Hande Cilingir, was valued at close to $2 billion in its latest financing last year. The company declined to disclose its valuation in the new funding round. 

“As a pioneer of predictive models in customer experience, this funding positions us to further build upon that foundation,” Cilingir said. “We believe that our differentiators, especially AI-enabled tools, will set Insider apart as the preferred choice for marketing and customer experience teams.” 

Insider operates in 28 countries and five continents, the company said, with products that allow marketers to manage customer engagement from a single platform. The startup has integrated more than a dozen channels including WhatsApp, text and email into its service.

Insider plans to increase its regional investments on the back of strong demand in the US market, according to a statement. It will also use the funds to develop its software, invest in research and explore potential acquisitions.

The company is poised to capture a larger chunk of a market worth more than $15 billion a year “as businesses race to upgrade their marketing strategies around the world,” Sascha Guenther, managing director at General Atlantic, said in a statement. As part of the transaction, Guenther, who is General Atlantic’s head of Germany, Austria and Switzerland, will join Insider’s board of directors, as will General Atlantic Managing Director Alex Crisses and Vice President Christopher Apfel.

Insider has more than 1,500 customers, including Samsung Electronics Co., Unilever Plc, L’Oreal SA  and Walt Disney Co. 

Existing investors in the company include the Qatar Investment Authority, Sequoia Capital, Wamda Capital and Istanbul-based Esas Private Equity. The latest funding round brings its total raised to more than $770 million.

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Founded in 2017, Pixis positions itself as a codeless AI infrastructure provider for marketing sector

It claims to work with more than 200 brands such as DHL, Carsome, JOE & THE JUICE, Kavak, HDFC Bank, among others. AI-powered martech startup Pixis has raised $85 Mn as part of its Series C1 funding round led by Touring Capital.

The round also saw participation from the startup’s existing and new investors, including Grupo Carso, General Atlantic, Celesta Capital and Chiratae Ventures. 

Founded in 2017 by BITS Pilani dropouts Shubham Mishra, Vrushali Prasade, and Harikrishna Valiyath, Pixis positions itself as a codeless AI infrastructure provider for marketing sector. The startup offers a full-stack AO-powered product suite that helps enterprises enhance different aspects of marketing and augment their decision-making.

The startup’s codeless infrastructure, boasting of more than 200 proprietary AI models, offers plug-and-play AI products, ranging from campaign optimisation to creative asset generation. 

Pixis will deploy the funding to accelerate global expansion and deepen the platform’s AI capability.

A part of the capital will also be utilised to invest in research and development (R&D) to launch a generative AI-powered creative studio (in beta phase).The funding will also be used to build a strategic product and forge business partnerships.

This year, Pixis successfully beta-tested its generative AI-powered creative studio and has introduced new products focused on cross-platform growth marketing. The company has also initiated live deployment of its AI solutions specifically tailored for B2B enterprises in 2023.

“This is shaping up to be an exciting year for Pixis as we welcome Touring Capital as investors… With this capital raised, we will continue to concentrate on strategic channel partnerships with renewed vigour, and invest heavily in our R&D efforts,” Mishra said.

Commenting on the fundraise, cofounder and general partner at Touring Capital Nagraj Kashyap said, “We passionately believe in the power of generative AI to transform enterprise software use cases.

We see Pixis as a pioneer in this category and have been thoroughly impressed by the platform’s powerful technical capabilities translating into rapid customer adoption.

This year, Pixis successfully beta-tested its generative AI-powered creative studio and has introduced new products focused on cross-platform growth marketing. The company has also initiated live deployment of its AI solutions specifically tailored for B2B enterprises in 2023.

“This is shaping up to be an exciting year for Pixis as we welcome Touring Capital as investors With this capital raised, we will continue to concentrate on strategic channel partnerships with renewed vigour, and invest heavily in our R&D efforts,” Mishra said.

Commenting on the fundraise, cofounder and general partner at Touring Capital Nagraj Kashyap said, “We passionately believe in the power of generative AI to transform enterprise software use cases.

We see Pixis as a pioneer in this category and have been thoroughly impressed by the platform’s powerful technical capabilities translating into rapid customer adoption.”

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