Seed Round Co-Led by Glasswing Ventures and Google's AI-focused Fund, Gradient Ventures, Will Be Used To Supercharge R&D and Support Customer Success
Boston, MA, February 6, 2020 -- Plannuh, a startup transforming the way marketers plan and budget, today announced a $4 million seed round co-led by Glasswing Ventures and Gradient Ventures, Google's AI-focused venture fund. The new funding will be used to accelerate Plannuh’s R&D initiatives and support teams as the company continues to expand its customer base.
Peter Mahoney, founder and CEO of Plannuh, was troubled by the consistent mismanagement of budgets and poor execution of plans resulting in wasted spend. Leveraging over 30 years of marketing experience, Mahoney identified that the primary causes of budgetary waste stemmed from too many marketing plans, budgets and metrics spread across various slide presentations, spreadsheets, documents, and disparate systems. This resulted in a lack of visibility into plan execution, time and marketing spend, as well as budget forecast accuracy.
Plannuh solves this problem by consolidating all marketing plans, budgets, and expense tracking into a single cloud-based system for full transparency and collaboration, providing significant productivity gains and better spend accuracy for teams. Plannuh provides the entire marketing team -- from CMOs to operations and budget owners -- with an AI-enabled permissions-based platform that is purpose-built for the way they create, and execute plans and budgets.
“Plannuh enables the marketing profession to attain its full potential,” said Peter Mahoney, founder and chief executive officer of Plannuh. “We are excited to have the support and domain expertise that Glasswing and Gradient bring to the table as we look to realize our vision of optimizing every marketing strategy through AI-driven recommendations for better decision making and automated budget management.”
The primary product capabilities in the platform include:
- Marketing plan creation and management
- Budget and expense management, including automated, AI-based reconciliation
- Marketing goal, metrics, and target planning
- Marketing plan benchmarking against best practices
- Team alerts for when issues arise
- ROI tracking across plans, campaigns, regions, functions and marketing type
Plannuh’s payback is almost immediate for customers. On average, Plannuh’s customers recover between 4%-24% of their overall annual marketing budget that was previously lost due to poor tracking.
- A unified, cloud-based view for full visibility of marketing plans and budgets
- AI-driven automation for budget management efficiency and accuracy
- An easy to use platform, with customers up and running in less than 1 week
“The intersection of AI, marketing and customer intelligence is a heated battleground,” said Rudina Seseri, Founder and Managing Partner at Glasswing Ventures. “Plannuh is poised to win the battle with a transformative AI platform that provides marketers with immediate and actionable information to build smarter, interactive marketing plans and budgets. We are delighted to continue to champion the exceptional marketing technologists at Plannuh as they expand the company’s footprint and accelerate customer adoption.”
“We think Plannuh will help companies large and small manage and optimize their marketing spend, driving clear and direct ROI." Zachary Bratun-Glennon, Partner at Gradient Ventures, added, "The team at Plannuh has lived through challenges of spend management and optimization, and they're building software that delivers broad understanding of spend, accurate forecasts, and intelligent recommendations for better results."
For more information or to schedule a demo of Plannuh, please visit: www.plannuh.com
Marketers looking to align teams, optimize budgetary spend and exceed organizational goals, use Plannuh, the first cloud-based Marketing Leadership platform, to quickly and easily create winning plans, maximize budget impact, and improve ROI. Unlike disconnected, static spreadsheets and disparate tactical marketing systems, only Plannuh offers a unified, collaborative platform that delivers AI-driven recommendations, benchmarks, and process automation for achieving industry-leading marketing performance. Visit Plannuh to learn more.
Glasswing Ventures is an early-stage venture capital firm dedicated to investing in enterprise, platform and security startups that harness the power of AI and frontier technologies to transform markets and revolutionize industries. Glasswing partners with founders to help them assemble powerhouse teams, acquire first customers, and secure the right foundation to launch and accelerate their startups to their full potential. For more information about the firm please visit: www.glasswing.vc
Gradient Ventures is Google's AI-focused venture fund - investing in and connecting early stage startups with Google's resources, innovation, and technical leadership in artificial intelligence. The fund focuses on helping founders navigate the challenges in developing new technology products, allowing companies to take advantage of the latest advances in machine learning, so that great ideas can come to life. Gradient was founded in 2017 and is based in Palo Alto, California. For more information, visit www.gradient.com.