Promoted, a San Francisco, CA-based company that unifies search, feed, ads, and promotions for marketplaces, raised $6M in Seed funding, bringing the total amount raised to $8M.
The round was led by Y Combinator, with participation from Interlace Ventures, Vela Partners and angel investors such as Michael Seibel, and Group Partner.
The company intends to use the funds to further develop its real-time streaming data infrastructure platform used by top marketplaces, as well as hire additional engineers for its growing team.
Led by CEO Andrew Yates, Promoted unifies search, feed, ads, and promotions for top marketplaces like Outschool, Hipcamp, Teachers Pay Teachers, Snackpass, and other e-commerce unicorns. First, Promoted measures everything in its client’s app or marketplace, then they aggregate and join the data in real-time with reporting. Next, using AI-based data optimization, the system creates a complete picture of the data to predict conversion and clicks for the client’s search and feed. Once Promoted has this complete picture of performance on a marketplace, it creates a “unified currency” for optimizing trade-offs between the optimal user experience in search and feed, seller experience using ads and promotions, and marketplace profitability versus growth.
FinSMEs
04/07/2022