Ex-Ramp engineers raise $20M for platform Melius after scrapping their first product
Melius raised $25 million after abandoning its first performance-marketing product and rebuilding around AI-generated creative work.
The company says the round includes a $20 million Series A led by CRV and a $5 million seed led by General Catalyst. Co-founder Joowon Kim told TechCrunch the original product did not “have legs,” so the team scrapped the codebase and started over. The new platform is described as an “agents lab for creative work,” meant to generate ad campaigns, images, and videos from plain language. Melius says it passed $1 million in annualized revenue within two months of coming out of stealth in July. TechCrunch AI's note
The company says the round includes a $20 million Series A led by CRV and a $5 million seed led by General Catalyst. Co-founder Joowon Kim told TechCrunch the original product did not “have legs,” so the team scrapped the codebase and started over. The new platform is described as an “agents lab for creative work,” meant to generate ad campaigns, images, and videos from plain language. Melius says it passed $1 million in annualized revenue within two months of coming out of stealth in July. TechCrunch AI's note
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