Home Media Albert Technologies Secures $18M for AI Platform for Automating Marketing

Albert Technologies Secures $18M for AI Platform for Automating Marketing

In case you are not aware, artificial intelligence is now becoming part of every aspect of life including reputation management, e-commerce, cybersecurity, and recruitment.

Nevertheless, creativity remains one of the only remaining human elements that are safe from being phased out by algorithmic automation. It is just a matter of time.

Currently, algorithms appear to be increasingly encroaching on the creative space, for instance, Google is providing tools that can imitate human drawings. Prisma is turning your pictures into artwork while Wix provides automated web design.

On the other hand, Automated Insights generates financial and sports press coverage through numbers respectively. Tailor Brands is yet another company that recently secured $15.5 million to improve its AI-driven platform, which automatically develops company brands.

Against such conditions, Albert Technologies is embarking on a move that may disrupt the digital marketing space with an AI platform that produces campaigns or brands across the globe.

Recently, the company revealed that it had secured $18 million in financing from various institutional investors such as Old Mutual Global Investors, Hargreave Hale, and Schroder Investment Management.

The fresh round of financing tops up the initial $42M that the company had secured back in 2015 at its London IPO. During this time, Albert Technologies was referred to as Adgorithms. With that background about Albert Technologies, let us now delve into what the company does.

Automated Marketing

At a standard level, Albert feeds large volumes of data that it changes into insights and utilizes to operate optimized campaigns independently.

Delving into details, the company works across various channels including Google and Facebook in a bid to measure both the outcome and impact of marketing campaigns as well as automate its campaigns based on what it considers effective for a given market segment.

Companies or brands can feed Albert Technologies their creative content including market targets, logos, images, and logos.

On the other hand, Albert can obtain data from its database in an attempt to determine the key features of a serious buyer.

In turn, it can try to search for other potential clients that match such characteristics, which are dubbed lookalike audiences. Albert also runs its trail campaigns on a small group of clients prior to fine-tuning the campaign and releasing it on a wider scale.

Albert was established in 2010 outside Tel Aviv by Or Shani. What’s more, the product was created by a team of engineers and data scientists heading for its launch back in 2014.

Additionally, the startup fully self-funded before its launch on the London Stock Exchange in 2015. Albert later entered the United States market in August 2016 before the launch of Salesforce’s Einstein.

Aside from targeting businesses directly, Albert Technologies avails its platform to advertising agencies, who then provide it to their customers.

With additional money in its bank account, the company may start creating its client base in additional markets to serve its customers better.

These customers include Singapore-based food firm Dole Asia, US-based motorcycle maker Harley-Davidson, Australian gift retailer RedBalloon and luxury lingerie company Cosabella. Furthermore, Albert transferred its official headquarters to New York City in 2017, where it currently has 80 workers.

Source VentureBeat

Subscribe to our newsletter

Signup today for free and be the first to get notified on the latest news and insights on artificial intelligence

KC Cheung
KC Cheung
KC Cheung has over 18 years experience in the technology industry including media, payments, and software and has a keen interest in artificial intelligence, machine learning, deep learning, neural networks and its applications in business. Over the years he has worked with some of the leading technology companies, building and growing dynamic teams in a fast moving international environment.
- Advertisment -

MOST POPULAR

Internet Giant Tencent Pitches its AI Ethics for the World

China’s Tencent is pushing its artificial intelligence ethics vision on the global stage, a move that goes against its traditionally isolated style. In an interview...