Melius Raises $25 Million for AI Ad Creation Platform
Melius raised $25 million for its AI advertising platform, according to TechCrunch. The total includes a $20 million Series A led by CRV and a $5 million seed round led by General Catalyst.
The New York company was founded by former Ramp engineers Joowon Kim, Young Kim and Arnav Ramu. The founders initially built software for managing and optimizing advertising spending, but discarded that product after more than six months and shifted to creative production.
Melius now generates advertising campaigns, images and videos from plain language instructions. The company came out of stealth in July and says it reached more than $1 million in annualized revenue within two months.
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