OutPoint, a Toronto, Canada-based automated media mix modeling (MMM) platform, announced it raised $1.2 million in pre-seed funding to transform how high-growth consumer brands measure paid media effectiveness and diversify marketing investments.
The round was led by Capital and MGV, with further backing from Entrepreneur First and Mistral Venture Partners. Additional angel investors include Andrew Macdonald (SVP, Uber), Soso Sazesh (Founder, Growth Pilots), Charlie Feng (Co-Founder, Clearco), and Farhan Thawar (VP Engineering, Shopify).
The funding enables the company's growth and hiring efforts, especially in its Research and Engineering functions.
Company: OutPoint Inc
Raised: $1.2M
Round: pre-Seed
Funding Month: November 2021
Lead Investors: Capital and MGV
Additional Investors: Entrepreneur First, Mistral Venture Partners, Andrew Macdonald, Soso Sazesh, Charlie Feng, and Farhan Thawar
Company Website: https://www.outpoint.app/
Software Category: Data science and media mix modeling (MMM) platform
About the Company: OutPoint was founded in January 2021 in Toronto, Canada, and serves high-growth consumer brands globally. OutPoint's founding team is Sean Billings (CTO), a senior engineer who built econometric machine learning models at Amazon, and Rob Palumbo (CEO), who led marketing at high-growth consumer companies like Properly and Borrowell. OutPoint is a data science and media mix modeling (MMM) platform that empowers high-growth B2C brands to improve marketing budget allocation and maximize growth efficiency. OutPoint's predictive models recommend how much to dial-up or dial-down ad spend across channels and offer a roadmap for unlocking future growth. OutPoint uses advances in machine learning and media mix modeling to help consumer growth teams map ad spend to revenue based on the incremental lift and predicted performance.
Source: https://www.prnewswire.com/news-releases/outpoint-raises-usd1-2m-to-help-high-growth-brands-improve-paid-marketing-effectiveness-through-automated-media-mix-modeling-301429431.html