Pixis, formerly Pyxis One, announced today that it has raised $100 million in Series C funding. Pixis is a company that provides contextual AI infrastructure with no code for total marketing optimization. The new funding will be used to help the company quickly scale its AI platforms and plugins, as well as expand across North America, Europe, and India.
SoftBank Vision Fund 2 led the Series C investment, with General Atlantic, a major global growth equity firm, joining as a new investor. Celesta Capital, Premji Invest, and Chiratae Ventures were among the existing investors in the round. Exfinity Venture Partners, a Pixis early investor, was able to make a partial exit with record returns thanks to this financing. Exfinity’s stock has been sold to venture capitalists. Pixis has raised a total of $124 million since its start in 2018, thanks to the close of its US $17 million Series B investment barely four months ago.
The Pixis AI infrastructure, founded by Shubham A. Mishra (Global CEO), Vrushali Prasade (CTO), and Harikrishna Valiyath (CBO), uses self-evolving neural networks to empower over 100 customers throughout the world with AI-powered decision-making. Pixis is ideally situated to disrupt marketing by making it more agile and data-driven, especially in a world that is rapidly moving toward a cookieless web, having grown 600 percent since its founding. The investment in Pixis by SoftBank Vision Fund 2 demonstrates that in a world without cookies, Artificial Intelligence might be a major differentiator for marketers.
Priya Saiprasad, Partner at SoftBank Investment Advisers said, “Marketing is one of the largest spending categories for companies but many of its decisions are still driven by intuition rather than data. Pixis has developed an end-to-end codeless AI infrastructure, that equips teams with cutting-edge data science to automate and improve core processes, from budget allocation to real-time campaign optimization and reporting. We are excited to partner with Shubham and the team to support their mission to make marketing data-backed, intelligent, agile, and effortlessly scalable in the new cookie-less world.”
Shubham Mishra continued, “The web going cookieless, in conjunction with decreasing access to the depth of data that was previously available, is a worrisome situation for marketers. In this environment, it is self-evolving neural networks that are proving to be invaluable assets in countering the disruptions to the marketing landscape. We’re excited to partner with SoftBank Vision Fund 2 and General Atlantic to make codeless AI infrastructure accessible to every market in the world.”
Customers using the Pixis AI infrastructure have witnessed a 20% decrease in acquisition costs on average, in addition to at least 300 hours of manual work saved per month. The alluring factor for customers, however, is definitely the prospect of activating AI in 8 seconds without having to write a single line of code.
“Pixis is on a rapid growth trajectory and the fresh funds will help us far exceed our timelines for that”, said Neel Pandya, the company’s APAC CEO. “Especially with the introduction of our unique AI plugin, we’ve recorded enormous growth and retention with our current customer base. Our immediate focus will be to hire talent in India as we’re looking to more than double our team size here.”
Looking ahead, Pixis aims to add over 200 customizable self-evolving AI models to the infrastructure it offers and has already introduced close to four dozen AI models since its last funding. And now, with the US$100 million Series C funding, Pixis is all set to fast-track tech and AI development.