Creative workflow automation platform Marpipe has announced it has secured $8 million in Series A funding to help equip users with the tools to build powerful tech stacks for creative elements. The funding was led by Stage 2 Capital with participation from other notable investors such as Commerce Ventures, Ripple Ventures, and Samsung.
“Creatives and marketers know that testing ad creative is one of their most important activities, but for many decades, the workflow behind creative testing has remained entirely manual with minimal actionable learnings,” said Dan Pantelo, Marpipe’s 26-year-old Founder/CEO. “This new funding will significantly further Marpipe’s efforts to build the tech stack that enables creatives to predictably deliver winning ad creative.
Marpipe’s design platform intents to help brands and agencies automate their creative testing processes to simplify advertising campaigns. Global brands such as Crocs, Guitar Center, Mars, and Nectar use the platform to streamline their creative testing processes, optimizing results.
The platform works by tracking conversation data to help design hundreds of versions of advertising options. The solution then allows users to perform tests to determine and publish the best campaign strategies, enabling real-time performance feedback.
“Advertisers that ran 15 experiments (versus none) in a given year see about a 30% higher ad performance that year; those that ran 15 experiments in the prior year see about a 45% increase in performance, highlighting the positive longer-term impact of this strategy.” said Julian Runge of Facebook’s Ads Research Team.
With the new funding, Marpipe aims to create a powerful operating system designed to host rapid creative testing. The platform allows users to test how their ads compare to competitors, determine their best strategies, and organize data in one single display. Marpipe also plans to use the new funding resources to expand its team size with goals of doubling by the end of the year and tripling in 2022.