Purposely.ai Company Profile

Background

Overview

Purposely.ai is a Brooklyn-based B2B SaaS company specializing in automating the analysis and production of advertising creatives through artificial intelligence. Founded in March 2022, the company aims to enhance the efficiency and effectiveness of digital advertising by leveraging AI technologies.

Mission and Vision

Purposely.ai's mission is to empower advertisers by providing data-driven insights and streamlined workflows, enabling them to create high-performing ad creatives efficiently. The company's vision is to revolutionize digital advertising by integrating advanced AI capabilities into the creative process, thereby reducing guesswork and optimizing campaign outcomes.

Primary Area of Focus

The company focuses on automating the analysis and production of ad creatives, utilizing AI to identify effective text and visual components that drive higher engagement and conversion rates. This approach aims to eliminate manual processes and enhance the overall performance of digital advertising campaigns.

Industry Significance

In the rapidly evolving digital advertising landscape, Purposely.ai addresses the critical need for data-driven creative optimization. By integrating AI into the creative process, the company offers a solution that enhances ad performance and operational efficiency, positioning itself as a significant player in the AdTech industry.

Key Strategic Focus

Core Objectives

Automated Creative Analysis: Utilize AI to analyze historical ad performance and extract actionable insights.

Efficient Creative Production: Streamline the creation of new ad creatives based on identified best-performing elements.

Enhanced Workflow Management: Simplify approval processes and ad deployment through integrated platforms.

Specific Areas of Specialization

Ad Performance Analytics: Employ natural language processing and computer vision to assess text and visual components of ads.

Generative AI for Creative Development: Leverage AI to generate new ad creatives that align with identified successful elements.

Workflow Automation: Automate approval workflows and ad deployment to improve operational efficiency.

Key Technologies Utilized

Natural Language Processing (NLP): To analyze and interpret textual content within ads.

Computer Vision: To assess visual elements and their impact on ad performance.

Generative AI: To create new ad creatives based on data-driven insights.

Primary Markets Targeted

Purposely.ai primarily serves digital marketing agencies, advertisers, and brands seeking to optimize their digital advertising efforts through AI-driven creative analysis and production.

Financials and Funding

Funding History

Purposely.ai has raised a total of $220,000 over two funding rounds. The most recent funding round was an angel round on October 9, 2023, led by Techstars.

Utilization of Capital

The raised capital is intended to support the development and enhancement of Purposely.ai's AI-driven platform, expand its customer base, and scale operations to meet the growing demand for automated creative solutions in digital advertising.

Pipeline Development

Key Pipeline Candidates

Purposely.ai's primary focus is on the continuous development of its AI-powered platform for ad creative analysis and production. The company is actively working on refining its algorithms and expanding its capabilities to offer more comprehensive insights and creative solutions to its clients.

Anticipated Milestones

Platform Enhancements: Ongoing improvements to AI algorithms for more accurate and actionable insights.

Client Acquisition: Expansion into new markets and acquisition of additional clients seeking AI-driven creative solutions.

Product Diversification: Introduction of new features and tools to address a broader range of advertising needs.

Technological Platform and Innovation

Proprietary Technologies

AI-Powered Creative Analysis: Utilizes advanced AI techniques to dissect and evaluate ad creatives, identifying elements that contribute to higher performance.

Generative AI for Creative Production: Employs AI to generate new ad creatives based on successful components identified in previous campaigns.

Significant Scientific Methods

Natural Language Processing (NLP): Analyzes textual content within ads to determine effective messaging strategies.

Computer Vision: Evaluates visual elements of ads to assess their impact on audience engagement and conversion rates.

Leadership Team

Alex Kennedy – CEO & Co-Founder

Alex Kennedy serves as the CEO and Co-Founder of Purposely.ai. He has been actively involved in the development and strategic direction of the company since its inception.

Colleen Love – Co-Founder

Colleen Love is the Co-Founder of Purposely.ai, contributing to the company's vision and growth strategies.

Competitor Profile

Market Insights and Dynamics

The digital advertising industry is experiencing rapid growth, with increasing emphasis on data-driven strategies and AI integration. Advertisers are seeking innovative solutions to enhance creative effectiveness and campaign performance.

Competitor Analysis

QuantPlus: Provides AI-driven insights for advertising, focusing on analyzing creative elements to inform campaign decisions.

Bestever: Offers AI-driven advertising solutions, including automated ad generation and competitor analysis.

Monks: A marketing and technology company utilizing AI to support business objectives in content production and digital experiences.

Strategic Collaborations and Partnerships

Purposely.ai has partnered with Techstars, a leading startup accelerator, to gain mentorship, resources, and access to a network of industry experts and potential investors.

Operational Insights

Purposely.ai differentiates itself through its specialized focus on automating the creative analysis and production process using AI, offering a unique value proposition in the AdTech sector.

Strategic Opportunities and Future Directions

Strategic Roadmap

Product Development: Enhance AI algorithms to provide deeper insights and more effective creative solutions.

Market Expansion: Target new industries and regions to broaden the customer base.

Partnerships: Forge additional strategic alliances to expand capabilities and market reach.

Future Business Directions

Purposely.ai aims to become a leading provider of AI-driven creative solutions in digital advertising, continually innovating to meet the evolving needs of advertisers.