● Covered by 1 source · 1 reportMedium impact1 neutral
Melius, an AI ad campaign generation platform, raises $25M after product pivot
Key points
- Melius raised $25 million ($20M Series A, $5M seed).
- The company pivoted from ad spend optimization to creative asset generation.
- Melius achieved over $1 million in annualized revenue in two months.
- Founders are ex-Ramp engineers.
Funding Details
Melius, an AI platform specializing in generating ad campaigns, images, and videos, announced a total of $25 million in funding. This includes a $20 million Series A round led by CRV and a $5 million seed round led by General Catalyst.
Product Pivot
Initially, the New York-based company, founded by ex-Ramp engineers Joowon Kim, Young Kim, and Arnav Ramu, aimed to build an AI-powered performance marketing tool. After more than six months, the co-founders decided to scrap their original product, believing it lacked market potential.
They shifted their focus to building tools for generating creative assets and campaigns, which they identified as a larger market opportunity. The entire codebase was rewritten for this new direction.
Early Traction and Market Position
Following its re-launch from stealth in July, Melius claims to have reached over $1 million in annualized revenue within two months. The company describes its platform as an "agents lab for creative work."
Melius operates in a competitive landscape with other AI creative asset generation startups, including Higgsfield, Krea, and Flora AI. Co-founder Joowon Kim acknowledges the competition but believes the market is large enough to support multiple players.
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Reporting from
Melius, an AI platform for generating ad campaigns, images, and videos, secured $25 million in funding, including a $20 million Series A and a $5 million seed round. The company pivoted from an AI-powered performance marketing tool to focus on creative asset generation, achieving over $1 million in annualized revenue within two months of its re-launch.