Cortex (1)

Cortex (1)

AI-powered visual analytics that helps marketers make better creative choices

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Security Type
Preferred Stock
Categories
Media
Min Investment
$250
Location
Boston, MA
Offering Date
December 02, 2020
Expected Close Date
February 15, 2021
Target Raise
$250.00K-$1.07M
Deal Notes

Price per Share: $1.12

Valuation
$8,420,000

Company Description

Cortex is a B2B SaaS platform used by the some of the world's leading brands to know what images and videos to make, how to make them, and which images and videos to promote with advertising budgets. 

Brands spend $600 billion every year on visuals without knowing these insights. Much of that $600 billion is wasted and careers can be ruined due to poor performance.

With Cortex, that entire $600 billion is de-risked. Brands can invest that money with confidence. 

Cortex hopes to be the brain behind all visual creation in 5 years.

When people see things, they develop an opinion nearly instantly. That opinion often determines whether the person will buy or enjoy that thing. 

Huge categories like entertainment, advertising, packaging, and product design are all impacted by people's opinions formed visually.

Cortex will be used to drive strategy in each of those spaces - reducing the risk of creating new products, ads, entertainment, and packaging. These projections cannot be guaranteed.

Key Deal Facts

Best in class customers - L'Oréal, Marriott, Toyota, Deloitte, Oreo, and more - with $600k run rate
Customers like L’Oreal, KAO, and Marriott have increased their revenue with us in the past 10 weeks
Cortex was one of 10 startups accepted into the super competitive Techstars Boston class in 2020
Founders’ previous company was in the same space and grew fast enough to be on the INC 5000
Raised $1.2M to date from really impressive CEO angel investors, Revup Fund, and Techstars
14 major international brands are already in late-stage pipeline for onboarding in 2021

Use of Proceeds

$250,000

  • 39% -- Product & engineering
  • 22.5% -- Sales and growth
  • 21% -- Marketing & Advertising
  • 10% -- Operations
  • 7.5% -- Wefunder intermediary fee

$1,069,999

  • 31% -- Product & engineering
  • 12% -- Sales and growth
  • 19.5% -- Marketing & Advertising
  • 5% -- Channels and Partnerships
  • 6% -- Customer Success
  • 6% -- Executive
  • 3% -- Patents & IP Protection
  • 10% -- Operations
  • 7.5% -- Wefunder intermediary fee

Management Team / Advisory Board Bios

Brennan White
CEO
A startup guy since college, Brennan started in sales at other people’s startups before starting two of his own. His first startup created content for the world’s best brands and grew fast enough to be a member of the Inc 5000.

Matt Peters
Chief Customer Officer
Subject matter expert. 15 years as a Creative Director working with marketing leaders at brands like Marriott, Dunkin' Donuts, Sonic, & Puma. Built a successful content agency with two years on the INC 5000. Angel investor.

Dimitry Kudryavtsev
VP of Engineering
Experience building tech teams & culture in a startup environment. Tech-leader of multiple R&D projects that applied computer intelligence technologies to develop mission-relevant tools for DoD. Enjoy uncovering deep insights in creative content.

Dung Phan
Lead Data Scientist
Specialized data scientist. Received Ph.D. degree in Computer Science from the University of Massachusetts Boston. Published 15+ papers in the field of multiobjective optimization and machine learning.

John Lahr
VP of Growth
Leads the Growth team at Cortex, overseeing 45% Quarter on Quarter sales growth last year and expanding the enterprise customer base over 2020. Over the past 6 years, he’s brought creative technology to MIT, Marriott, Toyota, Mondelez, and more.

Herman Uscategui
Senior Vice President Strategic Ventures
Led Starbucks to develop global alliances, new markets development across four continents. MA in engineering Saitama University, PhD scholar, University of Tokyo. Master’s in economics from Temple University Japan and fluent in several languages.

Deal Notes

Price per Share: $1.12

Amount Raised : $0
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Security Description

Preferred securities are a type of investment that generally offers some sort of preferred treatment through a dividend or preferred treatment in a liquidation.

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