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Tomi.ai has raised its seed round fund of $1M from Begin Capital and Phystech Leadership Fund. The company CEO said that the funds would be used towards the expansion of its team
Tomi.ai, an AI-powered platform optimizing digital ads, has announced its seed fundraise of $1 million from Begin Capital and Phystech Leadership Fund.
Konstantin Bayandin, founder and CEO of Tomi.ai, on his LinkedIn handle, announced the funding and thanked the investors. According to reports, Mr. Bayndin would use the proceeds from the fund to expand the company’s platform.
Tomi.ai, founded in 2020, uses behavioral data from websites and mobile applications to predict ultimate business outcomes. Reports state that companies with long and offline sales cycles in real estate or fintech struggle to optimize their digital ads for business outcomes, causing companies to tailor ads to leads and clicks. This can lead to high customer acquisition costs.
Tomi.ai resolves the aforementioned problem by collecting online data from a tracking pixel on a company’s website and ad platform API integrations and transactions from customer relationship management systems.
Mr. Bayandin, in a statement to VentureBeat, said that Tomi.ai’s vision is to become a standard solution for Facebook and Google ads that target optimization in traditional industry verticals.
A number of tools advertise they do targeting and optimization of ad campaigns, a few tools do predictive targeting and optimization, but all of them use third-party data in one way or another, and it’s only us who rely on first-party data. Product-wise, we differ because of our laser focus on traditional industries that can’t leverage the power of ad systems’ smart bidding, owing to low conversions and a long sales cycleKonstantin Bayandin, founder and CEO of Tomi.ai