Cuttable raises $4.5m bringing total seed funding to $10m
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The news: Melbourne-based AI creative agency Cuttable has secured an additional $4.5 million in funding, bringing its total seed funding to $10 million. The company has launched what it claims is the world's first AI creative agency built specifically for growing online businesses.
The numbers: Square Peg led the latest $4.5 million funding round, with support from existing investor Rampersand and new investor Brand Fund.
The company has created over 10,000 ads through its early platform for various brands in 2024, and officially launched three weeks ago with multiple Australian brands joining the platform.
The context: Cuttable spent 12 months in development, combining AI development with advertising expertise to create a fully automated platform that generates hundreds of on-brand, performance-ready ads in minutes. The platform is designed to serve medium-sized brands and ecommerce businesses that lack resources for traditional agency services.
What they said: "We've been in deep build-mode for the past 12 months, now we are launching Cuttable to help growing brands make ads that drive sales through Facebook and Instagram. It's a powerful growth lever for businesses. However, those building online brands have had to spend too long doing it themselves, we're changing that," said Sam Kroonenburg, Cuttable co-founder and chief executive officer.
"We backed Cuttable early because we believed in the team and the opportunity to harness AI to reshape the future of advertising," said Paul Bassat, co-founder and partner at Square Peg.
"A year later, that conviction has only deepened."
The source: Cuttable media release
