Regie.ai, a startup using OpenAI’s GPT-3 text generator system to create sales and marketing content for brands, announced today that it has raised $10 million in series funding. Led by Scale Venture Partners with participation from Foundation Capital, South Park Commons, Day One Ventures and leading angel investors. The new investment comes as VCs see a growing opportunity in AI-powered, copy-generating ad tech companies, whose technology promises to save time while potentially increasing personalization.
Regie was founded in 2020 by Matt Millen and Srinath Sridhar. Previously a software engineer at Google and Meta, Sridhar is a data scientist by trade, having developed enterprise-wide AI systems that detect duplicate images and rank search results. Millen was previously a vice president at T-Mobile, leading national sales teams (eg, strategic accounts and public sector).
With Regie, Sridhar says he and Millen aimed to create a way for businesses to communicate with their customers through channels like email, social media, text, podcasts, online advertising and more. Because businesses have so many platforms and mediums to talk to customers, he notes, it can be difficult for content marketers to consistently produce engaging content to reach. their clients.
“The way content is generated has fundamentally changed,” Sridhar told TechCrunch in an email interview. “Marketers and copywriters working in the business…increasingly [need] to produce and manage content and content workflows at scale. »
Regie uses GPT-3 to power its service – the same GPT-3 that can generate poetry, prose, and academic papers. But it’s a “flavor” of GPT-3 honed on a training dataset of about 20,000 sales sequences (the series of steps to convert prospects into paying customers) and nearly 100 million emails. sales emails. Also in the mix are custom language systems built by Regie to reflect brands and their message, designed to integrate with existing sales platforms such as Outreach, HubSpot and SalesLoft.
Lest the systems spit out problematic language, Regie says that every system goes through “human curation” and screening before being released. The startup also claims to train the systems on “inclusive” language and test them for biases, such as bias against certain demographic groups.
Clients can use Regie to generate original, search engine optimized content or create custom sales sequences. The platform also offers blogging and social media publishing tools to personalize messages, as well as a Chrome extension that analyzes the “quality” of emails sent by customers – and optionally rewrites the text.
“Generative AI is completely disrupting the way content is created today. Regie’s biggest competitors would be large content creation and management platforms that will be completely redesigned by AI first,” Sridhar said confidently. “For example, Adobe’s suite of products, including Acrobat, Illustrator, Photoshop, now Figma as well as Adobe Experience Cloud, will begin to become obsolete as Regie continues to rely on an intelligent creative platform and content management for the enterprise.
More immediately, Regie competes with vendors like Jasper, Phrasee, Copysmith, and Copy.ai, all of which leverage AI to generate tailored marketing copy. But Sridhar argues that Regie is a more vertical platform that caters to enterprise go-to-market teams while combining text, images, and workflows in a single pane.
“GEnergative AI is such a paradigm shift that not only will business productivity and revenue increase as a result, but the bottom line will also drop simultaneously. There are very few products that can improve both sides of this financial equation,” Sridhar continued. “So if a company wants to cut costs because they want to assimilate sales tools, or reduce outsourced writing while simultaneously increasing revenue, Regie can do just that. If you’re an outsourced marketing agency looking to retain more clients and efficiently generate content at scale, Regie can certainly do that for agencies, too. »
The company currently has more than 70 software-as-a-service customers with annual contracts, including AT&T, Sophos, Okta, and Crunchbase. Sridhar did not reveal earnings, but said he expects the 25-person business to grow “significantly” this year.
“This is a revolutionary new field. And as always, adoption will require educating users,” Sridhar said. “It is clear to us as practitioners that the world has changed. But it will take time for others to get their hands dirty and convince themselves that this is happening – and that is a very positive development. So we have to be patient in educating the industry. We also need to show that content quality is not compromised and can be performed better and maintained more consistently with the strategic application of AI. »
To date, Régie has raised $14.8 million.
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