Do you ever worry that a big proportion of your advertising spending is going to waste? John Wanamaker, an American businessman considered to have been the “pioneer of marketing”, coined the phrase: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” London-based Aiden.ai was designed to help companies better spend that money and improve their marketing campaigns. The startup tracks the performance of marketing campaigns, identifies patterns, and helps predict future performance and spending using AI.
Founded in 2016, Aiden.ai has just raised a €1.4 million seed round to fuel its rapid growth and develop its AI-powered marketing analyst. The round was led by Partech, along with angels Sophia Bendz and Nicolas Pinto.
Designed for mobile app marketers, Aiden uses machine reading to analyse large sets of paid advertising data, and proactively make changes to improve ROI. Unlike traditional dashboards where the user needs to pull data manually, Aiden provides a simplified experience to help marketers manage their multichannel campaigns and make the most of their advertising budgets.
The company was co-founded by Marie Outtier, who has a background in mobile marketing and technology and PJ Camillieri, who previously spent 10 years at Apple and has extensive experience working with Natural Language Processing and virtual assistants.
Marie explains: “Today’s performance marketers are bogged down with data coming from multiple sources. This problem isn’t new, but our approach of teaching a software to act like a real analyst would, has never been explored before. It’s a new generation of software, one that listens, learns and acts.”
PJ added: “To ensure that Aiden provides accurate and actionable insights that can actually make a difference to our users, we have also invested in a team of user acquisition experts to review and refine all insights generated automatically.”
This last round brings Aiden.ai’s total funding to €2 million, after an initial pre-seed round of €650k in March 2017.