Profound Secures $180 Million in Series D Funding
Profound, a New York City-based company specializing in AI-driven marketing solutions, announced a significant milestone by raising $180 million in a Series D funding round. The round was co-led by prominent venture capital firms Sequoia Capital and Kleiner Perkins. This funding will support Profound's ongoing efforts to enhance its platform, which enables marketing teams to utilize AI agents to gain insights and execute strategies based on customer interactions.
Investors and Participants
In addition to the lead investors, Sequoia Capital and Kleiner Perkins, the funding round saw participation from existing backers such as Lightspeed Venture Partners, Khosla Ventures, Saga Ventures, Evantic, and South Park Commons. This diverse group of investors highlights the growing interest and confidence in Profound's AI marketing platform.
Founders and Executive Insights
Profound was co-founded by Dylan Babbs, who serves as the Chief Technology Officer, and James Cadwallader, the current CEO. Speaking about the recent funding, Cadwallader noted the transformative potential of AI in marketing: “Our customers have shown us how much more marketing teams can take on when they have purpose-built AI to help them do the work.”
Use of Funds
The newly acquired funds will primarily be directed towards expanding Profound’s capabilities and conducting further research into AI applications for marketing. This expansion aims to enhance the platform's ability to assist marketing teams in managing and executing campaigns they previously lacked the technology to pursue.
Company Vision and Market Impact
Profound's platform has already attracted over 1,000 enterprise clients, including major brands such as Comcast, The Estée Lauder Companies, and Walmart. By continuing to develop their AI-driven marketing tools, Profound seeks to further establish itself as a key player in the marketing technology landscape.