The funding was led by venture capital firm Mayfield, with additional participation from Sorenson Capital, Instacart Co-Founder Max Mullen, and Josh Woodward, Head of Gemini and Google Labs at Google. Executives from companies such as HubSpot, Braze, Issuu, Brex, Sierra, and Common Room also contributed to the round.
Multiply’s Self-Learning Ads utilise internal company data, including sales meeting recordings, customer relationship management (CRM) systems, and customer emails, to generate and enhance advertising campaigns. The company reports that its technology has led to a 300-500% improvement in the performance of Google and LinkedIn ads, with some clients experiencing performance boosts of up to 900%.
The startup aims to position itself as a full omni-channel ad buyer for business-to-business (B2B) companies, optimising advertising spend across various channels. Multiply was founded by Matt Jayson, who previously worked at Google and Brex, and Ashish Warty, formerly Senior Vice President of Engineering at HackerOne and an engineering leader at Dropbox and Airship.
Multiply operates as a media agency, employing expert strategists who leverage proprietary AI to manage advertising campaigns. The company’s AI agents include a Customer Insights AI Agent, an Ideal Customer Profile (ICP) Agent, a Quality Score Agent, a Creative Design Agent, and an A/B Testing Agent. The infrastructure of Multiply is designed to support emerging AI-driven advertising platforms, such as ChatGPT ads.
Early customers of Multiply, including Vanta and Listen Labs, have reported significant improvements in their sales pipeline and lead generation. Vanta, a leader in security automation, stated, “We’ve seen 770% more sales meetings, we build and test faster with their AI, and their team is strategic, hands-on, and operates as trusted partners.”
Co-Founder and CEO Matt Jayson commented on the capabilities of modern companies to create improved advertisements: “Modern companies already have all the data needed to create radically better ads. Sales conversations, CRM systems, and pipeline outcomes reveal exactly why customers buy – yet those insights rarely make their way into ad campaigns fast enough.”
Jayson further elaborated on Multiply’s approach: “We help companies get discovered by their dream customers. To do this, we’ve built the world’s most insatiable AI agent. Just like a great growth marketer, it’s never satisfied. There’s never enough pipeline. So it keeps learning, testing, and finding ways to get better.”
Co-founder and CTO Ashish Warty highlighted the efficiency of Multiply’s systems: “Together, these systems allow Multiply to iterate faster than any traditional agency model.” He also emphasised the importance of brand safety, stating, “Brand safety is paramount. Every campaign includes human oversight from experienced media buyers, and we work within each customer’s brand and compliance requirements. We move as fast as their teams and systems allow.”
Patrick Salyer, Partner at Mayfield and a board member of Multiply, noted the transformative potential of Multiply’s technology in the B2B advertising market: “There is a major shift happening in the $50B B2B advertising market. Service-as-Software is redefining how companies grow, and Multiply has built the first AI model for B2B advertising. Instead of static campaigns managed manually, Multiply has become a compounding growth engine for every company it partners with.”
