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Below is our recent interview with Parry Malm, CEO and Co-Founder at Phrasee:
Q: For those who have never heard of it, how would you describe Phrasee?
A: Phrasee is AI that writes better marketing copy than humans. If you get emails, Facebook & Insta ads, or push messages from companies like Domino’s, Superdry or Virgin then you’ve experienced our technology without knowing it! They use us to get higher engagement (i.e. +35% more opens for Gumtree), more clicks (i.e. +57% more clicks for Domino’s) and more revenue (i.e. “millions of pounds” of incremental revenue for Virgin Holidays).
Q: How do you avoid possible mistakes in language generation, how does it work?
A: Phrasee uses an AI technique called Natural Language Generation. Our approach has a series of checks and balances to ensure the language generated is “natural” (i.e. sounds like a human wrote it). I won’t bore you with the technical detail – that’s our problem – but the solution is what matters: high-performing marketing copy that is indistinguishable from that which humans write.
Q: You have recently raised $4M, could you tell us more about your recent funding round?
A: Our Series A round was led by Albion Capital, and both of our existing investors, Next 15 and Galvanise Capital, followed-on. The funding is being used for two things: 1) R&D; and 2) commercial expansion. The former is ongoing, and the latter has just begun with our new office in San Francisco. Our new office is already cash generative, which is really exciting – and we are very bullish on the future Stateside.
Q: How would you convince someone to start using Phrasee?
A: The value proposition is pretty straightforward: do you want higher engagement rates from your online marketing campaigns? If the answer is yes, use Phrasee. If the answer is no… well… then we’ve never actually spoken to anyone who says no!
Q: What can we expect from Phrasee in next six months? What are your plans?
A: We’ve got lots of plans – including continued global expansion, and new product offerings that are in the pipeline. But, one thing I’ve learned over the last 3.5 years running Phrasee is this: the unexpected always happens. So, while we’ve gotten quite adept at business planning and forecasting, we also remain nimble and agile. Because the world changes around us. What our Series A investment allows us is the flexibility to try out numerous approaches, isolate which work, and double-down on them.