Phrasee secures £1m to help businesses get more email opens and clicks
London-based marketing software company has received backing from communications company Next 15 and angel syndicate Galvanise Capital
A marketing technology start-up that uses artificial intelligence (AI) to enable businesses to boost their email response rates has raised £1m seed funding in a bid to grow internationally.
Digital communications firm Next 15 led the round alongside angel syndicate Galvanise Capital in exchange for a minority stake in the company.
Headquartered in London and founded in 2015, Phrasee specialises in “marketing language” and has developed software which optimises email subject lines to attract the readers attention in order to increase email opens, clicks and conversions.
The start-up claims its email subject lines outperform human-generated attempts and have “beaten humans more than 90% of the time.”
It now plans to use the funding for research and development purposes and to expand its reach to the US markets.
Phrasee CEO and co-founder, Parry Malm, said of the investment:
“We founded Phrasee with the goal of creating a scientifically-based way of encouraging people to open emails, boosting response rates and subsequently generating greater revenue for the sender.
“Having been able to demonstrate the efficacy of our approach and demand for our product in our first year of operation, we are greatly encouraged by the support of Next 15 and Galvanise in taking the business to its next stage of growth,”
On its decision to back Phrasee, Tim Dyson of Next 15, commented:
“Our business is dedicated to supporting and developing innovative companies exploring new opportunities in fusing data science and technology. Phrasee matches our strategic focus perfectly and offers an exciting venture for us to partner in.”