Goldman Sachs leads $30m investment round in digital marketing outfit Persado

Goldman Sachs leads $30m investment round in digital marketing outfit Persado

Persado, a self-styled "cognitive content generation platform" for digital marketing, has raised $30 million in a Series C funding round led by Goldman Sachs.

Existing investors Bain Capital Ventures, StarVest Partners and the venture capital arms of Citibank and American Express also joined the round.

Persado’s platform employs natural language processing and machine learning algorithms to generate combinations of words, phrases and images for marketing communications via emails, landing pages, mobile, push notifications and social media that "motivate" audiences.

"Persado is revolutionising how organisations communicate by propelling creativity into the data-driven age, arming brands with ‘smart content’ that resonates with any audience, every time, and inspires them to act," says CEO Alex Vratskides.

The firm counts three of the top five credit card issuers in North America among its clients and claims users of its platform see a 49.5% average uplift in their marketing campaign conversions.

Vratskides says that the new funding will be used for product development and an expansion into more digital channels. He also suggests that the firm could move beyond marketing into areas such as pharmaceutical adherence, fitness and civic engagement.

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