Alembic, a startup leveraging pandemic-era contact tracing mathematics for marketing attribution, has announced a successful $14 million Series A funding round led by entertainment mogul Jeffrey Katzenberg’s firm WndrCo. This funding round comes in response to increasing demand from Fortune 500 chief marketing officers for AI-powered tools to accurately measure return on investment from extensive marketing budgets, which are increasingly distributed across digital channels.
WndrCo partner Justin Wexler emphasized, “We consistently inquire with Fortune 500 CMOs about their primary challenges. The most common response revolves around demonstrating the effectiveness of marketing expenditure.” He further explained, “It’s ingrained in WndrCo’s ethos to bridge innovative technology with the progressive strategies of CMOs.”
Alembic’s software effectively traces marketing campaigns to sales outcomes, attributing revenue and forecasting future ROI across various channels such as TV, radio, podcasts, social media, and other unstructured data sources. The startup utilizes techniques originally developed during the COVID-19 pandemic to analyze causes and patterns in diverse public health datasets.
Tomas Puig, founder and CEO of Alembic, described their approach as akin to connecting dots among a vast array of individuals. “What we do is predict where the connections will occur [using] enormous amounts of data,” Puig explained.
This real-time “contact tracing” of data points provides a significant advantage over traditional marketing mix models, which can take months to yield results.
Puig emphasized the complexity of these challenges, stating, “People call me the nerdiest CMO they ever met. These problems are just as hard as any of the giant data problems anyone else is tackling, maybe even more so because it’s at the intersection of both art and science.”
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