– Hamilton AI is the world’s first in-silico Marketing Mix Modelling data scientist –
31st May 2018: Blackwood Seven, the Copenhagen based provider of real-time AI powered media planning software, today announces a fundraising round of €16.8 million to support expansion of the business across Europe, the US and Asia.
Existing investors, including Jolt Capital, Vækstfonden, Sunstone Capital and Conor Venture Partners have led the investment round, demonstrating their ongoing commitment to Blackwood Seven’s business development as it aims to build out its position as a global leader in marketing AI. Munich based growth investor Cipio Partners joined the round as new investor.
Established in 2013, Blackwood Seven has built the world’s first Marketing Mix Modelling (MMM) in-silico data scientist – Hamilton AI. This real-time AI powered software platform predicts future business sales andautomates customer specific media planning and budget allocation across online and offline media channels. Large advertisers such as Volkswagen, Telenor, eBay and Groupon use the platform to plan campaigns, increase sales and deliver a better return on investment from media spend.
Blackwood Seven’s cloud-based technology allows marketers to regain control of media planning and use media investment as a more powerful and targeted business driver.Not only does it reduce the time it takes to carry out the marketing function, it also increases the accuracy and effectiveness of campaigns.
Blackwood’s software tracks customers’ historic marketing spend and media impact on company sales as well as a wide range of external factors such as macroeconomic inputs, weather data, financial market activity, unforeseen circumstances, consumer trust indicators, oil prices, currency fluctuations, competitor media activities etc. This provides visibility into the effectiveness of specific marketing channels and, for the first time, allows its customers to accurately measure and optimise their marketing ROI.
Carl-Erik Kjærsgaard, CEO & Co-Founder of Blackwood Seven, says: “This latest fundraise will boost our growth and development across Europe, America and Asia. With this additional funding, we will be able to further support our clients and promote greater media transparency across the globe as brands increasingly look for better and more cost-effective ways of planning and buying media.”