/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.

Advertising and data heavyweights invest in ProQuo AI

Source: ProQuo AI

Advertising agency Mother and data platform Dynata are the latest companies to invest in ProQuo AI; the ‘Brand Management as a Service’ platform for challenger brands.

The company will use the £5m investment to fund an ambitious stage of growth, building towards a planned Series A funding round later in 2021.

Launched in 2019 by Nadim Sadek, ProQuo AI is an always-on brand management platform run on artificial intelligence. Relied upon by a community of brands - including Seedlip, Tony’s Chocolonely, Lucky Saint and Pact Coffee - ProQuo AI conducts daily data collection to understand people’s feelings and thoughts on brands and their competitors.

Real-time analysis of this data combined with artificial intelligence produces custom action plans Brand Managers can follow for sure-fire brand growth.

“We are able to give Brand Managers confidence that marketing investments will lead to positive outcomes for their brands” says Nadim Sadek, Founder & CEO ProQuo AI. “We know that when humans and AI work strongly together, it’s always more successful than either working alone.”

ProQuo AI revenues grew 260% in 2020 and will reach an ARR of £2m in July 2021. In the past year the ProQuo AI team has more than doubled to over 80 with offices in the UK, US and South Africa.

On the reasons behind the investment, Michael Wall, Global CEO, Mother commented: “We believe that ProQuo’s unique approach to AI-powered brand management can generate more positive results for our clients’ brands and businesses. It offers both a real-time understanding of a brand’s position and nuanced directions for actions that need to be taken for success.”

Michel Guidi, Managing Director International, Dynata said “The future of customer engagement will be based on real-time, primary data that comes from consumers interacting with brands; this is the foundation of ProQuo’s system. Dynata is innovating with ProQuo to build a new primary data sourcing machine capable of programmatically delivering daily direction to brands ensuring they can invest in positive marketing actions. The scale and depth of our first-party data assets, the industry’s largest, provides a reliable and high-quality source of fuel for ProQuo’s innovative approach to managing brands via AI software.”

Comments: (0)