Pyxis One, now pix, closed with $100 million in Series C funding to continue developing what it bills as “the world’s only non-code contextual AI infrastructure for end-to-end marketing optimization.”
SoftBank Vision Fund 2 led the round and was joined by new investor General Atlantic and existing investors Celesta Capital, Premji Invest and Chiratae Ventures. The new capital comes just four months after Pixis announced its $17 million Series B to bring its total funding to date to $124 million.
The California-based company was founded three years ago by Shubham A. Mishra, Vrushali Prasade and Hari Valiyath. This is the second company the team has started together; the first was artificial intelligence in the gaming space, Mishra told Ploonge.
As the company progressed, the team realized that most people were writing “Pyxis” with an “i” instead of a “y”, so to make it super clean and symmetrical, the company changed its name, he said.
Before starting Pixis, the co-founders spoke with chief marketing officers and chief revenue officers about how to quickly scale SaaS companies in a “cookie-free” world that would require companies to deploy their own systems to respect customer privacy.
“Not many are ready to do that,” said Mishra. “We are solving this by creating a no-code AI solution that can be deployed in less than eight seconds.”
In fact, the company has 50 AI models now for self-evolving neural networks to add AI optimization to marketing campaigns and plans to scale to 200 in the next six months. Pixis believes in the vision that people will be partly data scientists driven by no-code solutions, Mishra said.
And it’s not just a ploy saying it’s “no code,” it’s actually no code at all, he noted. The infrastructure was built as a spectrum of offerings so you could go all out and tweak the AI marketing models, assemble a team of data scientists and develop something, or just do 30 minutes of training and press a button to deploy the products and plugins.
Series C follows 600% revenue growth since 2018. Pixis will close in January with more than 100 customers, all in the mid-to-large range, Mishra said. Customers using Pixis AI infrastructure have seen a 20% reduction in acquisition costs, as well as hours of manual labor saved every month, he added.
The funding will help scale AI platforms and plug-ins as it expands across North America, Europe and APAC.
“This year is a new horizon for us,” Mishra said. “Last year we were launching our solution for BTC and DTC marketing and by the end of Q1 of this year we will have a solution for B2B and software companies.”
Meanwhile, Priya Saiprasad, partner at SoftBank Investment Advisers, said via email that Pixis is unique in being a true end-to-end demand generation infrastructure that “equips marketing functions with advanced data science capabilities to drive better decision-making decisions”. doing in a world without cookies.”
She believes it’s a “game changer” because marketing is a big budget item for companies, but much of the spend is wasted when companies don’t have the tools for messaging and visuals and therefore don’t segment customers. right through the right channel. the right time.
“A validation of Pixis’ product-to-market fit is the impressive growth rate the company has achieved in just three years since launch, supported by a loyal and engaged customer base of major global companies,” added Saiprasad. “We believe there is a significant clue for Pixis to continue this momentum due to the size of the market – companies spent an estimated $455 billion on digital marketing in 2021 – and Pixis’ industry-agnostic platform, allowing it to expand into different vertical”.
Shantanu Rastogi, Managing Director at General Atlantic, also noted that with the changing marketing ecosystem as a result of new limitations on data sharing, Pixis is addressing this and creating a new return on investment for customers by leveraging AI predictive models to deliver marketing efficiency.
“Pixis is bringing automation and orchestration to an industry that, until now, has accepted platforms that we believe rely on outdated technology as ‘good enough,’” added Rastogi. “We are thrilled to support the talented team in their efforts to grow and scale globally with this investment.”