Brazilian marketing automation startup Advolve.ai raised $5.3M in a seed round led by Canary. Valor Capital, Prosus Ventures, Valutia, and Scale Up Ventures also participated in the round.
Advolve.ai is an AI-powered marketing platform that automates the creation, management, and optimization of digital ad campaigns across multiple platforms, adjusting strategies based on performance metrics.
“We only serve companies that invest at least $2M BRL per year in advertising. These companies don’t just have a performance problem but a scale problem. They want to invest more, but since they are concentrated on a few platforms (Google and Meta), their Return on Invested Capital drops when they try to increase investment,” said Advolve.ai’s Co-founder and CEO João Sobreira.
Advolve.ai will use the funds to hire new people, invest in technology, enhance its AI model, and expand internationally, especially in the US.
Founded in 2023 Advolve.ai serves clients like iFood and Cogna Educação.
Read more on Startupi and Brazil Journal.