The investment bank has put millions into a US startup which uses machine learning for marketing. Goldman Sachs has led a $40m funding of Persado , the Citi automated copywriting startup with 200 staff across its London , New York and San Francisco offices. New York is known as a “cognitive content company”, which uses machine learning algorithms and natural language processing to craft targeted marketing messages for companies such as AmEx , Citi , Qubit , Expedia and Vodafone . According to Persado executives, the company’s 4000 ad campaigns have already produced an average uplift on conversion rate of 49.5% . The move by Goldman Sachs to invest in Persado follows the bank's move earlier this year to place $40m into London data analytics startup Qubit .
Goldman Sachs has led a $40m funding of Persado , the Citi automated copywriting startup with 200 staff across its London , New York and San Francisco offices. New York is known as a “cognitive content company”, which uses machine learning algorithms and natural language processing to craft targeted marketing messages for companies such as AmEx , Citi , Qubit , Expedia and Vodafone . According to Persado executives, the company’s 4000 ad campaigns have already produced an average uplift on conversion rate of 49.5% . The move by Goldman Sachs to invest in Persado follows the bank's move earlier this year to place $40m into London data analytics startup Qubit .