Marpipe, the first platform to automate the workflow behind creative testing for brands and agencies, has announced its completion of an $8 million Series A funding round. The raise was led by Stage 2 Capital with participation from ValueStream Ventures, Commerce Ventures, Ripple Ventures, and Samsung. Further, Laconia Capital Group, Math Capital, and TIA Ventures were among those entities that deepened their existing investments into the future of data-driven creative.
Notably, Marpipe secured all major allocations into the Series A within four weeks. Key investors include Mark Roberge, former CRO of Hubspot, currently Partner at Stage 2 Capital; Greg Coleman, former President of HuffPost, BuzzFeed, and Criteo; Ari Paparo, Founder & CEO of Beeswax and Head of Partnerships & Strategy at FreeWheel; Brendan Gahan, Chief Social Officer at Mekanism; and Eric Franchi, Founder of Undertone. Marpipe’s initial raise was a $2 million seed round in 2019, with backing from Adobe, Laconia Capital Group, Math Capital, and TIA Ventures.
Over the past year, Marpipe has tapped into an overwhelming market demand for a solution to creative testing, with a diverse customer set that includes Segment, Quip, Lambda School, Republic, and Guitar Center. With this new funding, Marpipe will be able to build the operating system for rapid creative testing so that brands can out-test their competition, learn more from their creative tests than ever before, and centralize all their creative data in one place. Marpipe will also double its team size by the end of this year and triple it in 2022, with a proportionate dedication of resources between engineering and revenue operations.
“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.”
Since the Mad Men era, the process behind making and launching ad creative has remained stubbornly unchanged. The process of guessing and checking, or simply deferring to the opinion of the highest paid person in the room, no longer works in today’s competitive digital environment.
Marpipe changes the creative workflow from the very beginning by letting brands take their designs and ideas, create and test all the potential creative possibilities within days, and have their audiences determine which creative executions to build out and scale. This new workflow means marketers can reliably achieve better-performing ad creative, while creatives see how to produce and deliver ads they know will work better.