When marketers Paul Benigeri and Geoffrey Woo were at their old businesses in food technology and e-commerce infrastructure respectively, they saw how manual and repetitive digital marketing workflows were, all the more so. that the number of disparate and unintegrated marketing tools grew.
In an effort to make their lives easier, they created Archive.ai in March to create technology that connects databases and distribution channels so they talk to each other and tackle what they think is the future of the world. marketing – “build with you” – versus the “talk to you” approach the founders believe traditional digital marketing is doing.
Its initial two products are Archive, a Shopify app that automatically detects, categorizes, and saves brand-related Instagram stories, and Archive Communities, which makes influencer marketing programmatic so brands can scale up their brand building efforts faster. the community.
In fact, Woo, who is president of Archive.ai, said via email that the company is pioneering a new approach to digital marketing that it calls “community marketing.”
“It takes ideas from influencer marketing, affiliate marketing, loyalty programs and community management,” he said. “Most of the existing services operate in silos and don’t interact well. Additionally, since Apple banned the Facebook tracking pixel with iOS 14 in recent months, much of the paid social media advertising has become extremely ineffective for most ecommerce businesses.
Before being incorporated, the company was a profitable venture, according to Woo. His list of corporate clients includes Four Sigmatic, the former company of Benigeri CEO, Health Via Modern Nutrition, and a few household names he was not yet ready to pronounce. There are over 40 alpha testers on the Archive App with over 200 people on the waiting list. The company plans to launch Archive App before the end of November.
However, to “properly build a next-generation community marketing technology business,” as Woo put it, the company decided to seek venture capital. Today, he announced $ 4.068 million in funding led by Stripe.
Lux Capital, Sugar Capital and Anti Fund also participated in the round, along with a group of individual investors including Ramp CEO Eric Glyman and CTO Karim Atiyeh, Attentive CEO Brian Long and CPO Andrew Jones, Applied Intuition CEO Qasar Younis and Clement Delangue, CEO of Hugging Face.
With the new funding, the company has tripled its workforce to 36 people, and its monthly recurring revenue has increased 58% since April. The company also intends to triple the engineering team to focus on automating workflows and machine learning to help and streamline marketing tasks and decisions.
In addition, the plans include building a marketing team. Kwan Kim recently joined Archive.ai as Chief Growth Officer after serving as the first digital marketing employee for Recurly and growing the business until it was acquired by Accel-KKR in 2020.
“The archives provide businesses with an easy way to review and, more importantly, understand what their customers are really saying – the north star for every smart business,” said Chris Sperandio, head of business development at Stripe, in a written statement. “We are delighted to invest in Archive and in doing so, help their users grow Internet commerce. “