FUNDING · STARTUPS · #1624
Ex‑Ramp founders’ AI creative startup Melius raises $25M after product pivot
Melius, an AI platform for generating ad campaigns, images and videos, said it raised a total of $25 million — a $20M Series A led by CRV plus a $5M seed led by General Catalyst. The New York startup, founded by ex‑Ramp engineers Joowon Kim, Young Kim and Arnav Ramu, pivoted from an AI performance‑marketing tool (scrapping its initial codebase) to a creative‑generation platform and says it hit over $1M annualized revenue within two months of coming out of stealth.
KEY POINTS
- Melius, an AI platform for generating ad campaigns, images and videos, said it raised a total of $25 million — a $20M Series A led by CRV plus a $5M seed led by General Catalyst.
- The New York startup, founded by ex‑Ramp engineers Joowon Kim, Young Kim and Arnav Ramu, pivoted from an AI performance‑marketing tool (scrapping its initial codebase) to a creative‑generation platform and says it hit over $1M annualized revenue within two months of coming out of stealth.
- The funding and successful pivot validate demand for AI tools that generate creative ad assets and give Melius runway to compete in a crowded, fast‑growing market for AI‑driven marketing creative.
WHY IT MATTERS
The funding and successful pivot validate demand for AI tools that generate creative ad assets and give Melius runway to compete in a crowded, fast‑growing market for AI‑driven marketing creative.