AI firm Spike secures USD 1.9 million in preliminary funding round, intending to broaden the reach of their software MAGI across various online platforms, including websites, paid ads, SEO, emails, and influencer marketing.
In the ever-evolving world of marketing, a new player is making waves. Spike AI, a startup founded by Deepesh Kumar and Shrestha Pratik in 2024, has recently secured a pre-seed funding round of $1.9 million, led by Sorin Investments. Principal Venture Partners and GSI also participated in the round [1][2][3][4][5].
The funding will be used to accelerate the rollout and adoption of Spike AI's flagship product, the MAGI platform. MAGI is an autonomous marketing intelligence platform designed to replace fragmented marketing tools and manual guesswork. It automates real-time analysis, identifies friction points, and executes marketing improvements across multiple channels such as websites, paid media, SEO, email, and influencer marketing [1][2][3][4][5].
Spike AI's vision is to transform marketing intelligence through fully autonomous, continuous optimization driven by AI. The company envisions MAGI as a transformative marketing orchestration "operating system," offering 24/7 adaptive, explainable AI-driven marketing optimization that can deliver measurable outcomes up to 10 times faster than traditional methods [1][2][3][4][5].
Deepesh Kumar, CEO and Co-founder of Spike AI, believes the trillion-dollar marketing industry needs intelligent orchestration. He stated, "Spike AI is here to provide that intelligent orchestration, revolutionizing the way businesses approach marketing." [1]
Sorin Investments, co-founded by Sanjay Nayar and Angad Banga, is excited to back a bold, technically sound team that's reimagining the foundation of marketing in the AI age. Mandar Dandekar, Partner at Sorin Investments, stated that Spike AI is the first real attempt at building a 'marketing brain' and is not just another SaaS tool [1][2][3][4].
Principal Venture Partners, based in the Bay Area, is drawn to Spike AI's first-principles approach to a broken system, as they are not just adding AI to marketing but building an entirely new paradigm. Dr. Songyee Yoon, Managing Partner of Principal Venture Partners, believes Spike AI's technology has the potential to be as fundamental to marketing as Salesforce’s was to CRM [1][2][3][4].
Early users of Spike AI's MAGI platform have reported over 40% increases in conversions. Shrestha Pratik, CTO and Co-founder of Spike AI, described MAGI as marketing's AlphaGo, adaptive, explainable, and relentless [4].
As Spike AI moves forward, they plan to expand MAGI's application across various marketing channels, aiming to reshape marketing intelligence through fully autonomous, continuous optimization driven by AI. [1][2][3][4][5]
