Data intelligence software company Proxima has announced the successful closure of a $12 million Series A funding round spearheaded by Mucker Capital. Joining the investment fray are notable backers including Aglae Ventures, the family office of LVMH's founder, along with Data Point Capital, Broadway Venture Partners, and others.
“Our team saw first hand the sense of apprehension and skepticism among brands spending on paid channels following the iOS privacy changes in 2021. But since our launch, we’ve seen the widespread embrace of data insights and enhanced targeting as our clients have become more successful with AI-powered experimentation, leading to our 4x growth. This investment will allow us to evolve our platform to enable our clients to achieve superior decision making in acquiring and retaining customers as well as leverage AI to execute marketing strategies with unparalleled performance,” said Alex Song, Founder and CEO of Proxima.
Since its inception in May 2022, Proxima has demonstrated exceptional growth, boasting a staggering 400% increase in revenue and expanding its proprietary network of B2C connections to a robust 12,000 strong. At the heart of its offering lies a vast repository of over 65 million distinct, anonymized shopper profiles, expertly fused with cutting-edge AI algorithms. This dynamic fusion enables clients to unlock invaluable insights and achieve superior targeting capabilities, thus elevating their marketing endeavors to unprecedented heights.
The infusion of new capital will fuel Proxima's technological advancements, particularly in AI-powered feature development, while streamlining the expansion of its technological infrastructure and commercial capabilities.
With a suite of solutions tailored to optimize paid media scalability across major advertising platforms such as Meta and TikTok, enhance customer retention through predictive analytics, and furnish actionable industry benchmarks, Proxima equips businesses with the tools needed to thrive in an evolving digital landscape.
Proxima emerged to confront the formidable challenges facing consumer tech enterprises amidst mounting privacy regulations and economic pressures.
“Proxima is addressing one of the most important issues for marketers today - leveraging data effectively to drive profitable growth in the face of challenging market dynamics for both customer acquisition and retention. We’re thrilled to lead their Series A fundraise and are eager to collaborate with the leadership team on the exciting journey ahead,” said Omar Hamoui from Mucker Capital.
