Generative AI Startup Typeface Raises $100M for Branded Synthetic Media Platform
Synthetic media for business startup Typeface has closed a $100 million Series B round led by Salesforce Ventures. Typeface provides companies with generative AI tools for producing text, images, and other content customized to fit their branding and suitable for a marketing campaign or other business practice.
Typeface’s generative AI engine produces content shaped for specific brands and purposes, including sales, marketing, and employee needs. The startup recently added additional features, including AI-powered image editing, video-to-text conversion, and photographic imitations good enough to act as product photos. Each Typeface client incorporates their existing portfolio of reference images, style guides, message statements, and related data to Typeface. The AI uses the information as a filter when composing articles, website text, and illustrative images.
“The transformative potential of AI in content creation is undeniable, but businesses face unique challenges that require enterprise-ready solutions,” Typeface CEO Abhay Parasnis said. “By combining the strengths of generative AI platforms with our brand-specialized knowledge, we have eliminated the barriers for enterprises to harness generative AI. Typeface empowers every enterprise to create high-quality, personalized content that aligns with its unique voice.”
Generative AI’s capacity to assist companies with marketing and advertising has led to a rapid-fire release of toolkits and platforms that share some similarities with Typeface. For instance, Jasper released a platform in June applying its AI engine specifically for marketing campaigns, while new synthetic media startup Rembrand uses generative AI to make product placement more flexible. International brands like Nestlé and Coca-Cola have started experimenting with the technology in an agreement with OpenAI, and ChatGPT and Stability AI’s Midjourney synthetic image creator gave a two-person agency enough help to put together a TV commercial for a family tree platform, including plenty of fictional biographies and portraits.
Typeface’s new funding follows a $65 million round in early March and propels Typeface into unicorn territory with a $1 billion valuation. The participants in the last round, including Google Ventures, Microsoft’s M12 Venture Fund, Lightspeed Venture Partners, and Menlo Ventures, also participated in the new finance deal. Along with the investors, Typeface also carried over the use of its own generative AI in writing the funding announcement. Typeface also announced major partnerships with Salesforce and Google Cloud that will bring its synthetic media generation to Salesforce Marketing GPT, Google Cloud, and Google Workspace.
“To make generative AI truly effective in an enterprise environment, it is essential to have a robust solution and a highly experienced team that understands the specific challenges faced by businesses. Typeface represents best-in-class enterprise generative AI with its unique focus on brand personalization, IP ownership, and seamless integration into existing workflows. We are thrilled to invest in Typeface’s talented team and their exceptional vision,” Salesforce chief corporate development and investment officer John Somorjai said.