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Investible - Investment Notes: SoMin.ai 17 August 2022

A look inside Investible's backing of SoMin.ai, a startup revolutionising the digital marketing industry.

Earlier this year, Investible backed Singapore-based SoMin.ai, a deep-tech marketing technology that leverages machine learning to give marketers a better return on their advertising spend investment. The business is led by co-founders Aleksandr Farseev (CEO) and Kirill Lepikhin (CTO), a technical and incredibly savvy duo intimately familiar with the sector they have begun to disrupt.

Traditional marketing approaches are not cost-efficient. It can be difficult for marketers to correlate the money spent on a marketing campaign with revenue from sales (i.e. return on marketing spend). Currently, one way to measure and test advertising campaigns is iterative A/B testing through focus groups. With the introduction of machine learning and natural language processing, there are now ways to derive insights that reflect the wider market and not just select sample sizes. Big data algorithms now have the capability to scrape data from user-generated content (e.g. what consumers have liked on Instagram) and use it to create an intimate understanding of consumer behaviour.