MarTech startup Phrasee closes $4m Series A


London-based MarTech company Phrasee has raised a $4m (£3.07m) Series A.

Phrasee leverages artificial intelligence to generate optimised marketing copy.

The money will be used to boost the company’s international growth plans as it seeks to scale up its new US operations in San Francisco.

Phrasee’s round was led by Albion Capital and featured follow-on investment from existing backers including Next Fifteen PLC (Next 15) and angel syndicate Galvanise Capital.

“From day one, our vision has been to transform how brands speak to their customers online. Having built awesome relationships with some of the most progressive brands in the UK, we’re now ready to take our AI technology and approach to the US market,” said Parry Malm, Phrasee co-founder and CEO.

“The investment from Albion, and the experience it will bring to the board, will supercharge our global ambitions.”

“We have a solid track record of supporting the expansion of high-performing UK businesses into the US and understand the formula for long-term success,” said Emil Gigov of Albion Capital, who will be joining Phrasee’s board.

“Based on Phrasee’s commercial track record to date, client-focused culture, product leadership and the calibre of its ever-expanding team, we believe the company has an incredible future and are proud to be part of this next phase in its growth story,”Gigov concluded.