Sydney startup MagicBrief has raised $2 million in a pre-Seed spherical for its advertising platform which acts just like the lovechild of Canva and Pinterest for promoting.
The spherical was led by Blackbird with assist from Archangel Ventures. A number of particular person founders additionally chipped in as angel traders, together with Vimeo’s Zach Klein, UsTwo’s Matt Miller, Tim Doyle from Eucalyptus, Spriggy’s Alex Badran and Halter’s Craig Piggot.
The funds might be used to rent a founding group and refine its first product providing.
MagicBrief will give advertising groups the instruments they want for his or her artistic workflow, from creating storyboards and artistic briefs utilizing drag and drop, to saving advertisements on social media for inspiration, alongside a library of greater than 25,000 advertisements, together with their metadata and duplicate. The platform can also be BETA testing a synthetic intelligence instrument that analyses one other model’s advertisements.
MagicBrief co-founder and CEO George Howes was beforehand the artistic director of Eucalyptus – now a cornerstone shopper of the startup – and ponied up with Dan Nolan, cofounder and CTO of MagicBrief.
“With extra huge manufacturers shifting away from an company mannequin and bringing their artistic groups in-house, I seen that they had been nonetheless adopting outdated artistic processes, the identical workflows they’d learnt from conventional promoting businesses,” Howes mentioned.
“There’s a rising variety of tech merchandise that target analytics, monitoring and attribution, however probably the most impactful variable, the artistic itself, has largely been forgotten on the subject of advertising know-how.”
He explains the idea as rolling three key parts into one: sourcing inspiration for manufacturers to search out their voice and aesthetic, develops ideas for concepts that may convert gross sales, and briefing, to present creators – influencers, writers, or celebrities endorsers – the model information and values, in addition to artistic tips, on the one platform.
“Startups and established manufacturers alike are responding to financial pressures; tightening their belts. Having a smaller group of creatives in-house is low-hanging fruit, if they will get it proper,” Howes mentioned’
“Platforms like Tiktok are driving an amazing push in direction of short-form interest-based video artistic, and requiring a rising variety of these belongings that many corporations are struggling to maintain up with.”
Alongside Eucalyptus, the nascent martech startup has additionally signed up Solawave, Lyka and canned mocktail makers Sure You Can.
Tim Doyle was so impressed, he purchased into the corporate.
“Digital advertising is consistently having to evolve. Evolve to dodge ache factors which can be created by, say search engine optimization modifications, or a social media firm’s insurance policies being up to date. Or perhaps a new competitor that may pop up on the block actually in a single day,” he mentioned.
“A bunch of creatives sitting in a room collectively concepting concepts simply isn’t quick sufficient nowadays for a lot of manufacturers to maintain their heads above water, and it’s positively not an efficient use of recent advertising budgets that depend on eschewing any extra spending in favour of recognized successes. This typically results in protected, however bland artistic work.”