PALO ALTO, Calif., Sept. 26, 2017 /PRNewswire/ -- ADEXT, a Mexican born, Silicon Valley based, artificial intelligence and machine learning startup, raised $3 Million USD at a $20 Million USD valuation in December 2016. The firm went from $100,000 USD starting capital to a $20 Million USD valuation in less than a year of operations.
This makes it one of the most significant seed rounds in history for a Hispanic born artificial intelligence startup. In an indirect comparison, the firm raised 6x more capital at a 4x higher valuation than Facebook did, back when Facebook raised their seed round in 2004.
In a more relevant comparison, ADEXT raised 6x more capital than HubSpot did in their seed round back in 2006. "Our sole purpose and responsibility is to help businesses grow and increase their sales through Artificial Intelligence (AI) and Machine Learning (ML)".
We have built the first and currently only fully automated platform, using AI and ML to plan, deploy and buy paid ads cross-platform in Search, Social and Display to increase the sales of Small and Medium Businesses (SMBs) with very low budgets.
The funds will be used mostly in tech and marketing to expand further into the 22 Spanish speaking countries we already have over 1,000 customers at and into 7 English speaking countries, with the US being our main focus.
Our goal is to help 1 million SMBs increase their sales.
People fear the emergence of AI, but that's not the right mentality to have.
AI is superior to humans in numerical, data-driven, business intelligence, repetitive and mechanical tasks. Such as media planning and media buying. Yet the human being is far superior to AI in creative and strategic tasks. It's not a question of whether AI will replace humans or not. It's a question of where humans should focus and what do we do best." Says Daniel Molano, CEO of ADEXT.
The round is composed of both US and Mexican investors. It was led by Angel Romanos, Founder and CEO of public company Credito Real.
"Out of all the companies I have had the opportunity to be part of, ADEXT is where I trustfully see an enormous and sustainable potential," said Angel Romanos.
ABOUT ADEXT Corp.
With over 1,000 customers in more than 29 countries, ADEXT delivers superior advertising returns using Artificial Intelligence (AI) and Machine Learning (ML) to Small and Medium Businesses (SMBs). The first and currently only fully automated platform, using AI and ML to plan, deploy and buy paid ads cross-platform in Google, Facebook, Twitter, Instagram and thousands of websites to increase the sales of SMBs with very low budgets.
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For more information, please contact:
LOURDES PIQUE HUGUET
Cel. (+52) 55 4188 0895
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