An Indianapolis-based tech company has closed on a $3.5 million round of funding. Pattern89, which uses an artificial intelligence platform aimed at improving paid social advertising results, says it will use the funding to expand marketing efforts, scale platform, and grow data science, sales, and marketing teams.
Pattern89, formerly known as Quantifi, launched in 2017 as a spin-off of Indianapolis-based High Alpha. The funding round was led by F&M Investments, with additional participation from High Alpha Capital, Break Trail Ventures in Ohio and Colorado, Elevate Ventures in Indianapolis and Chicago-based IrishAngels, as well as strategic angel investors such as ClusterTruck and ExactTarget co-founder Chris Baggott.
"With this funding, we will deepen our AI to keep our platform at the forefront of what marketers need to be successful with their social advertising efforts now and in the future," said R. J. Talyor, founder and chief executive officer of Pattern89.
In addition to the funding, Pattern89 says it has added to its board of directors. The new members include Tony Wells, senior vice president of marketing at USAA, and Lauren Littlefield, director at Indianapolis-based Willow Marketing. IrishAngels board member Monica Luechtefeld has also joined as a board observer.
"Pattern89 is delivering incredible results for marketing teams due to their extensive investment in data science and AI. Their proprietary algorithms are impressive and improving the performance of social media campaigns for their early customers who are seeing significant revenue gains from the platform," Luechtefeld said in a news release. "At IrishAngels, we are excited to invest in the Pattern89 team and believe their AI to be the next game-changer in the digital marketing space."
Pattern89 touts some big names among its clients, including LIDS, The Finish Line, and Signature Hardware.