Melius raises $25 million after abandoning its first AI product
The startup is now focused on creative campaign generation, and says the new platform reached $1 million in annualized revenue within two months of launch.
Melius, the AI ad-creation startup founded by three former Ramp engineers, says it has raised $25 million in total, combining a $20 million Series A and a $5 million seed round. The company pivoted after its original AI performance-marketing tool failed to gain traction, scrapping the first codebase and rebuilding around generating campaign assets instead of optimizing spend. It came out of stealth in July and says it passed $1 million in annualized revenue within two months. The new product is positioned as an "agents lab for creative work" for marketers and brands.
Why it matters
For marketers and brands, the shift shows Melius is betting on making campaign creation the main product, not just an internal tool for optimizing spend. That matters because the company’s early traction suggests there is demand for AI systems that help produce creative work, and the funding gives it room to push that direction after replacing its first codebase.
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Sources
- TechCrunch