OutPoint, an automated media mix modeling (MMM) platform, announced it raised USD$1.2M in pre-seed funding to transform how high-growth consumer brands measure paid media effectiveness and diversify marketing investments. The funding enables the company’s growth and hiring efforts, especially in its Research and Engineering functions.
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San Francisco-based venture capital firms Tuesday Capital and MGV led the pre-seed round, with further backing from Entrepreneur First and Mistral Venture Partners. Additional angel investors include Andrew Macdonald (SVP, Uber), Soso Sazesh (Founder, Growth Pilots), Charlie Feng (Co-Founder, Clearco), and Farhan Thawar (VP Engineering, Shopify).
“OutPoint uses advances in machine learning and media mix modeling to help consumer growth teams map ad spend to revenue based on incremental lift and predicted performance. We help answer the two hardest questions marketers face: are you spending effectively, and where should you allocate your dollars to get more revenue?” said Rob Palumbo, CEO at OutPoint.
In the wake of Apple’s restrictions on user tracking in iOS14+, pixel-based attribution methods no longer provide the same quality of data that marketers require to understand performance. At the same time, customer acquisition costs (CAC) are rising as well-funded brands continue to compete on the same channels, sparking a need for better tooling to measure effectiveness and get insight on marketing investment decisions.
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“Tools for optimizing ad spend have never been more important to the success of DTC brands with Apple taking measures to restrict pixel and cookie-based tracking,” said David Jee, Associate at Tuesday Capital. “We’re proud to support Rob, Sean, and the team as they build the growth data science tools of tomorrow.”
OutPoint has experienced strong demand from high-growth brands for its media mix modeling tools. “OutPoint is our preferred marketing data science partner for modeling cross-channel performance and understanding revenue lift. Their platform helps us decide how to scale ad spend in a way that drives rapid growth,” said Will Bradley, Head of Growth at PolicyMe.
“The cost of acquiring customers has increased over 60% in the last 5 years. OutPoint’s data science tools help consumer brands improve the efficiency and effectiveness of ad spend, thereby levelling the playing field,” said Pablo Srugo, Principal at Mistral Venture Partners
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