Down ai raises $1 5 million for AI driven programmatic ad platform

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Down.ai raises $1.5 million for AI-driven programmatic ad platform.
The founders of Grow Mobile are back with a new ad tech startup called Downstream.ai. Co-CEOs Brendan Lyall and A.J. Yeakel are announcing they have raise $1.5 million in seed funding for Downstream.ai, which provides a self-serve platform for ad agencies and marketers to automatically place ads across a variety of mobile platforms.

San Francisco-based Downstream.ai is launching its beta program today, and it raised the money from London Venture Partners, with participation from Olive Tree Capital, Otter Consulting, Gramercy Fund, Ride Ventures, Rising Tide, and a short list of prominent industry angels. Paul Heydon, General Partner at London Venture Partners has joined Downstream’s board. The interesting thing here is that AI is adding a fresh new wave to ad tech, which has been consolidating in the past couple of years as targeted mobile ad marketing runs its course.

“While the rest of the industry is maturing, we saw this as an opportunity to jump in. We saw that ad inventory was shifting over to programmatic (more automated) ads in a big way,” said Lyall, in an interview with VentureBeat. “But on the creative side, the ads and developers were falling short. We needed to build a better framework to put creative ads that were more relevant in front of a user. We applied AI to that.”

Above: Brendan Lyall is co-CEO of Downstream.ai.



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Down.ai raises $1.5 million for AI-driven programmatic ad platform