Pixis secures US $100M in Series C funding
Series C round sees participation from new investor General Atlantic
Pixis
Bengaluru, 20th January 2022: Pixis (formerly known as Pyxis One), a leading provider of contextual codeless AI infrastructure for complete marketing optimization, today announced it has secured US $100M in Series C funding. Pixis will leverage the fresh funds to help the company rapidly scale its AI platforms and plugins, as well as accelerate expansions across North America, Europe, and APAC.
The Series C round was led by SoftBank Vision Fund 2, with participation from new investor General Atlantic, a leading global growth equity firm. Existing investors Celesta, Premji Invest, and Chiratae Ventures also participated in the round. With the close of its US $17M Series B round just four months prior, Pixis has raised a total of US $124M to date since its inception in 2018.
Founded by Shubham A. Mishra (Global CEO), Vrushali Prasade (CTO), and Harikrishna Valiyath (CBO), the Pixis AI infrastructure leverages self-evolving neural networks to empower over 100 customers worldwide with AI-powered decision-making. Having witnessed a 600% growth since its inception, today, Pixis is uniquely poised to disrupt marketing to make it more agile and data-backed, especially in a world that is speedily heading towards a cookieless web. The SoftBank Vision Fund 2 investment in Pixis confirms that in a cookieless world, Artificial Intelligence could be the big differentiating factor for brands.
Priya Saiprasad, Partner at SoftBank Investment Advisers said, “Marketing is one of the largest spending categories for companies but many of its decisions are still driven by intuition rather than data. Pixis has developed an end-to-end codeless AI infrastructure, that equips teams with cutting-edge data science to automate and improve core processes, from budget allocation to real-time campaign optimization and reporting. We are excited to partner with Shubham and the team to support their mission to make marketing data-backed, intelligent, agile, and effortlessly scalable in the new cookie-less world.”
Shubham Mishra continued, “The web going cookieless, in conjunction with decreasing access to the depth of data that was previously available, is a worrisome situation for marketers. In this environment, it is self-evolving neural networks that are proving to be invaluable assets in countering the disruptions to the marketing landscape. We’re excited to partner with SoftBank Vision Fund 2 and General Atlantic to make codeless AI infrastructure accessible to every market in the world.”
Customers using the Pixis AI infrastructure have witnessed a 20% decrease in acquisition costs on average, in addition to at least 300 hours of manual work saved per month. The alluring factor for customers, however, is definitely the prospect of activating AI in 8 seconds without having to write a single line of code.
“Pixis is on a rapid growth trajectory and the fresh funds will help us far exceed our timelines for that”, said Neel Pandya, the company’s APAC CEO. “Especially with the introduction of our unique AI plugin, we’ve recorded enormous growth and retention with our current customer base. The capital will also help us speed up our tech development and bring to market newer products more quickly.”
Looking ahead, Pixis aims to add over 200 customizable self-evolving AI models to the infrastructure it offers and has already introduced close to four dozen AI models since its last funding. And now, with the US$100 million Series C funding, Pixis is all set to fast-track tech and AI development.
About Pixis (formerly Pyxis One)
Pixis is a California-based technology company that provides codeless AI infrastructure to enable customers to scale accurate data-driven marketing. The company’s codeless AI infrastructure currently comprises over four-dozen proprietary AI models that are deployed across an ecosystem of products and plugins. Pixis is on a mission to provide marketers with robust plug-and-play AI products without them having to write a single line of code.
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $86 billion in assets under management inclusive of all products as of September 30, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.
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