Peec AI Gets $21M to Boost Brands in the Age of ChatGPT and AI-Driven Searches
It seems like everyone's chatting with ChatGPT these days, and that's changing how we find new products. This shift presents a challenge for brands, who need to ensure they're visible when people ask AI for recommendations. That's where Peec AI comes in, aiming to give businesses control over their presence in this rapidly evolving search landscape.
Just four months after their initial funding round, the Berlin-based startup Peec AI has snagged a cool $21 million in a Series A funding round, led by Singular. Although the exact valuation is under wraps, it's said to have tripled to over $100 million. Not bad for a company that's only been around for ten months!
What's driving this growth? Well, Peec AI helps companies keep tabs on how their brands are perceived in AI-powered searches. But it goes beyond simple tracking. They also analyze sentiment and identify the sources that are shaping those AI-generated answers. I think that's a very important and disruptive service.
Generative Engine Optimization (GEO)
This capability makes Generative Engine Optimization (GEO) possible. It's like SEO, but for the AI world. It gives marketing teams a way to optimize their brand's presence in AI search results. Currently, the startup is adding around 300 new customers each month. The new funding will fuel further growth and support expansion plans.
With the fresh capital, Peec AI plans to add 40 more people to their team in the next six months, primarily in Berlin. They're also planning to open a sales office in New York City next year. It seems that they are in a good position to start a fierce competition in the AI marketing world.
To stand out in this competitive landscape, Peec AI is focusing on offering a simple and easy-to-use dashboard that expands in scope to cater to the fast-changing world of AI searches. This is how you win in the technology business! You have to provide simple solutions to complex problems.
Unlike traditional SEO tools that revolve around keywords, Peec AI's dashboard is centered on prompts. Customers can track up to 25 prompts for €75 per month, or 100 prompts for €169 per month. If you need more than that, they also have enterprise plans starting at €424 per month.
To provide actionable insights, the dashboard offers suggestions to improve visibility and positive sentiment. I think this is great! You don't just show them the data, you tell them how to use it.
Ultimately, Peec AI's success may hinge on its proprietary data pipeline, which filters out irrelevant data to focus on questions related to brands, purchases, products, and services. This highlights that the AI value chain extends beyond just the models themselves. The AI application layer and the underlying data are crucial areas for innovation.
Source: TechCrunch