Our investment into Picasso Labs, the B2B software helping multinational brands analyse their ad content.
Picasso Labs was founded in 2015 by Anastasia Leng who previously worked at Google and has vast amounts of experience in the ad tech and analytics space. Picasso Labs was created as a result of a happy accident; Anastasia and her team noticed that millions of companies were not tapping into the reasons as to why users would react to certain images the way they do.
As a result of this, the Picasso Labs team developed a software that provides insights into ad performance and compliance with brand guidelines. The software analyses images and videos applying hundreds of tags to the content. These tags are cross referenced with brand guidelines and digital ad performance. Multinational brands such Unilever, Mondelez, Heiniken and AB InBev have adopted Picasso Labs software.
To date, Picasso Labs’ customers are large multinational consumer facing brands ranging from alcohol and supermarkets, to fashion brands and social media. These are primarily Fortune 500 companies, with vast market budget, global reach and thousands of creative assets. Picasso Labs helps to ensure brand continuity and regulatory compliance as well as boosting customer engagement.
Picasso Labs raised $3.5m in a Series A first round which closed in August 2019 with Baringea, a large VC with offices in the UK and US, acting as the lead investor. We will be launching The Founders Fund this quarter, where we will be making ‘incubator’ investments in early stage B2B SaaS companies. Conviction continue to be impressed by the Picasso Labs’ management team and the opportunity to grow within the market. As a result of this, we have invested into Picasso Labs via their Series A second close. This will be an incubator investment within The Founders Fund.
Conviction Investment Partners Limited (Registered Number 11087350) is an Appointed Representative of Enterprise Investment Partners LLP who are Authorised and Regulated by the Financial Conduct Authority. Your capital is at risk and you may lose all of the capital you invest. Past performance is not a guarantee of future performance.