Arcane, a London, UK-based provider of an AI co-pilot for modern marketers, raised $5M in Seed funding.
The round was led by Accel, with participation from Cocoa, Firstminute Capital, Kima Ventures and Seedcamp. Angel investors included Meta’s VP Product for generative AI Connor Hayes, Monzo founder Tom Blomfield, Supercell CEO Ilkka Paananen and WeWork President Anthony Yazbeck.
The company intends to use the funds to expand its engineering and data teams, and further develop the platform’s AI functionalities.
Founded in late 2021 by CEO Ben Hacking and CTO Jeremy Frenay, Arcane is an AI-powered co-pilot for marketers. Its AI assistant has knowledge about how campaigns are performing and automates the marketing teams’ day-to-day tasks – from generating reports to analysing customer sentiment – speeding up workflows and freeing up their time to be spent on more impactful activity.
Arcane integrates with content, organic, paid, social and email marketing channels, groups together all of their disconnected data and tasks, and plugs them into one platform. Its AI co-pilot then supports marketers in the background by automating the most mundane tasks, assessing and reporting back in real-time on their campaigns, and recommending next steps, acting as the digital brain for their marketing activity. Arcane has identified and mapped out more than 100 tasks its AI co-pilot can complete, capturing the majority of a marketer’s current workload. More tasks are in development.
Arcane is currently in closed beta but are onboarding waitlist sign-ups in the lead up to an open beta launch later this quarter.
FinSMEs
14/12/2023