# Promoted.ai

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/promoted-ai

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.promoted.ai
- Total disclosed funding: $8M
- Latest round: Seed (Jun 30, 2022)
- Investors on record: 5

## About

Promoted.ai, Inc. enhances ad and marketplace effectiveness through its AI Relevance Engine, integrating generative AI with traditional methodologies to improve conversion rates and user experience.Founded in 2020, Promoted.ai, Inc. operates from San Francisco, US, providing AI-driven solutions for enhanced search and advertising. The company has secured USD 6.00 mn in Seed funding led by Y Combinator, with additional support from Interlace Ventures and Vela Partners. Andrew Yates, one of the founders, serves as CEO. Promoted.ai has completed 3 deals with the most recent in June 2022.Promoted specializes in enhancing the relevance and effectiveness of ads and marketplaces through its AI Relevance Engine, which integrates advanced generative AI (GenAI) large language models (LLMs) with traditional machine learning methodologies. The core offerings of Promoted streamline search, discovery, and advertising processes for clients, ultimately aiming to improve conversion rates and revenue generation. Their technology is utilized by various customers, including platforms like Upwork, Hipcamp, Outschool, and RVshare, focusing on enhancing user experiences by better matching seekers and providers in diverse marketplace environments. Promoted's services are applicable in multiple geographical markets, specifically targeting North America and expanding into other regions where e-commerce and online advertising are significant.Promoted's revenue model is primarily built around partnerships with businesses that leverage their AI-driven solutions for improved search and ad performance. Clients engage in business transactions through subscription-based services, where they incorporate Promoted's technology into their existing platforms to enhance user engagement and conversion rates. These partnerships typically involve agreements to utilize Promoted's proprietary technology, which has been shown to yield substantial improvements in metrics like contract starts and conversion rates. The company boasts a notable client success story from Hipcamp, which reported a 10% increase in conversion due to Promoted's services. This indicates a strong alignment between Promoted's offerings and the revenue growth of its clients, making the partnership mutually beneficial.In June 2022, Promoted.ai, Inc. raised USD 6.00 mn in Seed funding to support its growth initiatives. The company plans to hire more engineers to further develop its platform, enhancing its product offerings. Additionally, Promoted is focused on expanding into new markets beyond North America, targeting regions where e-commerce and online advertising are prevalent. This strategic growth aims to capitalize on the increasing demand for advanced AI-driven solutions in various marketplaces.

## Funding rounds

- Seed, Jun 30, 2022, $6M — Y Combinator, Vela Partners, Interlace Ventures
- Seed, Nov 12, 2021, $2M — Y Combinator, Vela Partners, Rebel Fund, Interlace Ventures, Magic Fund

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Vela Partners (https://capitalatlas.ai/funds/vela-partners) — Seed
- Rebel Fund (https://capitalatlas.ai/funds/rebel-fund) — Seed
- Interlace Ventures (https://capitalatlas.ai/funds/interlace-ventures) — Seed
- Magic Fund (https://capitalatlas.ai/funds/magic-fund) — Seed