Adtech startup Otis AI raises $2.5m to enhance digital marketing for SMBs
Otis AI, the digital marketing assistant for SMBs, raised a seed round bringing its total funding to $2.5 million. With Otis, an all-in-one digital marketing solution, a small business can launch a data-driven multi-channel campaign across Facebook, Instagram, and Google in minutes, with no learning curve.
The round included investors such as Studio VC, Insta Ventures, DEPO Ventures, 5 Eyes Ventures, Emerging Ventures, Gaingels, and Papa Bear Ventures, and top executives in SMB marketing from the world's largest digital advertising platforms.
Founders Miguel Guerrero and Clarence Williams designed the small-business solution to simplify digital marketing and introduce automated strategies to drive performance.
Miguel Guerrero, CEO, Otis AI: "The timing of Otis is crucial because the pandemic accelerated the digital transformation of small businesses. Otis is the perfect solution for these businesses to connect with their customers and find new ones online."
The financing came after the company crossed $1 million annual revenue and secured strategic channel partnerships in the SMB space. This progress was fueled by an earlier $1 million pre-seed round, raised from top executives in the fintech space.
A business can simply link their existing platforms, and their first-party data is encrypted and synchronized to automate best marketing practices such as retargeting, online-to-offline attribution, creative optimization, and performance optimization. Otis's unique usage of data to supercharge advertising with enhanced targeting and attribution enables their customers to overcome recent challenges with mobile attribution and third party cookies.
Otis's clients see an average of 10x return on ad spend and 2x-3x improvements compared to their prior results. The trendy sneaker store Extra Butter, achieved an incredible 40x ROAS.
David Marquis, Country Manager, Intuit Canada: "Otis AI's platform empowers small businesses with AI-powered, digital marketing solutions. The unique capability of their offering to address the specific financial prosperity problems we are looking to solve in the wake of COVID-19 stood out for us."
Otis's mission is to level the digital advertising playing field for SMBs across the web, social media platforms, and connected television. With Otis, SMBs can finally supercharge their marketing, eliminate barriers to growth, and compete effectively no matter the size of the company, their ad budget, or the power of their competitors.
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