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Investing in Prescient AI and The Future of Digital Marketing Measurement
Mar 15, 2023
By Bruce Taragin, Managing Director, and Jacob Katz, Vice President, at Blumberg Capital
The Blumberg Capital team is proud to announce our investment in Prescient AI and its mission to empower DTC marketers to confidently scale advertising spend in a privacy-first internet. The macro shift toward privatization and anonymization of the internet is impacting marketers’ ability to accurately measure the impact of their paid campaigns, resulting in higher acquisition costs and wasted spend – a shift that we believe will continue to cause increasing pain for marketers. We are grateful to partner with Prescient co-founders CEO Mike True and CTO Cody Greco, and the entire talented Prescient team, as they tackle this growing problem within the $876B global digital advertising market.
Growing Market Opportunity in the Digital Marketing Measurement Ecosystem
Future Proof Approach to Campaign Attribution
The wave of privacy-first internet changes is growing with the continued sunsetting of user-tracking techniques including cookies, pixels, IP address tracking, fingerprinting, and more. Prescient’s technology has been built for the privacy-first internet and does not rely on tracking technologies for a number of reasons. First, as mentioned, these tracking technologies are being phased out due to privacy concerns and the associated regulatory push to add consumer protection. Second, these technologies take a long time to train for each company or use case, taking weeks to months. Prescient’s technology allows brands to view omni-channel insights on campaign performance from trained and backtested attribution models within 36 hours. Through advanced data science and artificial intelligence, Prescient is not only able to accurately predict and measure return on ad spend (ROAS) but also other critical marketing metrics, instilling confidence in marketers to understand how their campaigns are impacting the bottom line of their businesses.
Industry Leaders Back Team and Technology
From our earliest conversations with Mike and Cody, we were impressed with their combined passion and experience, as well as how they’ve built a stellar founding team around them. Mike’s experience as a leader in high-growth sales and strategy roles, coupled with Cody’s research and data science leadership, are a strong foundation for executing on the vision to deliver the most trusted attribution platform in the market. The team and technology has already attracted engineering talent from big tech firms like Meta, executives from the industry’s incumbents, and advisors from across the DTC ecosystem.
Blumberg Capital was the first investor in industry leaders such as Braze (Nasdaq: BRZE), DoubleVerify (NYSE: DV), and Yotpo, and looks forward to being a part of the next generation of innovators building meaningful technologies for brands and the e-commerce ecosystem.
We are excited to lead Prescient’s Seed round and are energized for the journey ahead as a board member and long-term partner alongside our co-investors, including CEAS Investments, Darling Ventures, Maccabee Ventures, Green Egg Ventures, and DTC leaders such as Troy Osinoff. Through our investment, Prescient joins Blumberg Capital’s community of visionary founders and enterprise software companies transforming how businesses get more value from their data through the use of AI.
Read more about Prescient’s new funding round in today’s announcement.
Learn more about Prescient here.