WILMINGTON, DE / ACCESSWIRE / November 12, 2024 / Alison Technologies Ltd (Alison.ai), a trailblazer in creative AI solutions for advertising, today announced the successful closing of a $13.3 million Seed funding round. The round was led by Almaz Capital, with participation from Foresight Group, Cardumen Capital, Crescendo Venture Partners, and Alumni Ventures.
Image Credit: Alison AI
The newly raised funds will be instrumental in Alison.ai's strategic expansion furthering its expansion in the US and Western European markets. The company also aims to strengthen and improve its innovative video creation capabilities and broaden its value proposition with additional products. These initiatives will further expand Alison.ai's addressable market and enhance the integration of Alison.ai's solutions across more teams within their client companies.
The advertising and marketing industry faces significant challenges, with advertisers often seeing large budgets wasted on ineffective ads due to unnecessary tests (such as A/B testing) and on high production costs. According to Digiday's State of Dynamic Advertising report, 40% of agencies are "leveraging data-driven content variations" for their dynamic creative optimization, yet only 20% are "incorporating AI-powered tools into their workflows," leaving room for inefficiency in creative analysis and campaign optimization. Alison.ai addresses these pain points by leveraging advanced AI to generate full video creatives using both their customers' data and data gleaned from their competitors' creatives. Alison.ai's technology helps advertisers reach the exact advertisement that will yield the best results without performing unnecessary tests and with minimal production costs. Alison.ai improves return on advertising spend (ROAS) threefold, increases click-through rates (CTR) by 200%, and cuts production and test budgets by about 50% on average.
Founded in 2021 by Asaf Yanai (CEO) and Koby Berkovich (CTO), Alison.ai has quickly established itself as a leader in the AI-driven advertising sector. The company's unique platform allows advertisers to eliminate the need for iterative testing and experimentation cycles and instead, cut through directly to the generation of optimized final scripts, storyboards, and full video creatives, setting a new standard in the industry. With presence in the USA, UK, Israel, and Ukraine, the company employs a diverse team of 50 dedicated professionals. Its prominent customers include LG, Bosch, Ferrara Candy Company, HelloFresh, Warner Brothers, Zynga, TikTok, P&G, and Desigual.
"At Alison.ai, we believe in the transformative power of AI to reshape the world of advertising. This investment will enable us to push the boundaries of what's possible and deliver even greater value to our clients around the world. We're looking forward to continuing our journey of growth and innovation and are eager to see the incredible impact our enhanced capabilities will bring to the advertising industry," shared Alison.ai CEO and Co-founder Asaf Yanai.
General Partner at Almaz Capital, Yoav Samet, expressed strong confidence in Alison.ai, stating "We are thrilled to lead this investment round in Alison.ai. The company's unique application of AI in the creative content development process has the potential to revolutionize how businesses generate content at orders of magnitude faster speed and lower cost. We are confident that Alison.ai will be a major player in the future of AI-powered content creation."
Gonzalo Martínez De Azagra, Founder and General Partner at Cardumen Capital, added, "We are excited to continue our support for Alison.ai as the company enters this new phase of growth. The company's team has made significant progress in developing its creative optimization and generation solution, and we are confident that they will continue to execute their vision."
"Alison.ai is a company that we have believed in since its inception. We are impressed with the progress the company has made and are excited to be a part of its continued success," commented Yuval Avni, Managing General Partner at Crescendo Venture Partners.
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About Alison Technologies Ltd.
Alison.ai is dedicated to transforming how businesses approach creativity in advertising. Harnessing the power of creative AI, Alison.ai empowers marketers to make informed decisions, generate better-performing creatives, enhance campaign performance, and stay ahead of the competition. Alison.ai is the first and only company in the world to allow advertisers to generate full video creatives based on their data as well as that of their competitors.
To learn more about Alison.ai, visit https://alison.ai/
SOURCE: Alison AI
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