As investment in creative and data analytics rises, CreativeX secures $25M to help marketers measure their content against four indicators of long-term brand growth: creative quality, brand consistency, compliance, and representation.
CreativeX - provider of an industry-first creative data platform to the world’s leading brands - has today announced $25 million in funding from Guggenheim Investments, on behalf of certain clients, with participation from the ProVen VCTs, the Brandtech group, and Conviction.
The creative element of marketing is known to have the largest influence on sales uplift (47%, Nielsen) but how it works is the least understood part of the marketing mix. Whilst CMOs have realized their creative work needs to do more as an effectiveness lever (Field) they are missing a confident and effective way to centrally measure, scale, and improve creative work.
The reasons why are complex: 84% of marketing content is visual (and increasing with the rise of new platforms like TikTok), there is cross-industry internal complexity within marketing organizations, and an incredibly high volume of content being created across multiple platforms, brands, markets and languages.
CreativeX provides a new and unique data source to leading brands such as Nestle, Facebook, PepsiCo and others to measure the creative element of marketing against global excellence goals, with products and workflows from CreativeX to implement change at scale.
CreativeX offers a creative data platform that automatically analyzes all of a brand's in-flight and pre-flight image and video content to determine how that content stacks up relative to industry best practices - as well as the brand's own creative criteria for success.
Using this data, CreativeX gives marketers a customizable global view into everything ranging from creative quality to the representation of people in their ads, providing a measurable framework for tracking and achieving creative excellence as content production continues to rise.
Started in 2015, CreativeX technology is now used by 30+ of the world's largest advertisers, powering creative decision making across 5,000+ brands, 1,000+ agencies, and across 130+ markets. Today’s funding announcement marks an important milestone in accelerating the marketing and advertising sector’s ability to know how their creative drives brand growth.
Anastasia Leng, Founder and CEO, said: “Marketers are waking up and recognizing their creative for what it is: a major untapped competitive advantage to drive media efficiencies and long-term brand growth. CMOs are responding to the overwhelming research surrounding the impact of creative by launching Centers of Creative Excellence and rebuilding their insights and production capabilities to scale content production in a data-backed way.”
“CreativeX is committed to solving the industry's most complex problem – how to optimize the creative element to build effective marketing,” said Evan Cummins of Guggenheim Investments. "We are excited to support CreativeX as it shapes the fast-evolving space of data-empowered creative excellence.”
Anastasia Leng, concluded: “This funding round, by far the largest in CreativeX history, is a testament to the impact our technology can have on the advertising industry, not only by reducing the $10B+ of wasted spend on creative that’s not set up to succeed, but also by bringing a layer of data to help marketers make creative more accessible, more representative, and better for long-term brand growth.”
Back to all news
Find out more about the ProVen VCTs’ annual shareholder event, which featured insights from Beringea, the investment manager, the boards of the two funds, as well as several of the companies from the portfolio
Sed at velit lacinia, gravida lorem vitae, egestas mi. Maecenas eu maximus.