Ex-Ramp engineers raise $20M for platform Melius after scrapping their first product
techcrunch ·
Melius, an AI platform for generating ad campaigns and creative assets, has raised a total of $25 million in funding. This round includes a $20 million Series A led by CRV and a $5 million seed round from General Catalyst. The startup was founded by former Ramp engineers Joowon Kim, Young Kim, and Arnav Ramu. Initially, the team built a performance marketing tool but scrapped it after determining the idea lacked potential. They pivoted to focus on creating an 'agents lab' that allows users to generate creative content using plain language. Although Melius claims over $1 million in annualized revenue within two months of its July launch, it faces competition from larger players like Higgsfield. Co-founder Joowon Kim remains optimistic about the market size, believing there is room for multiple competitors to succeed.
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