Ex-Ramp engineers raise $20M for platform Melius after scrapping their first product
AI ad creative platform Melius announced on Tuesday a total of $25 million in funding, including a $20 million Series A led by CRV and a $5 million seed round led by General Catalyst. Founded by three former Ramp engineers, the company pivoted to a "creative work agent lab" that generates ad assets and campaigns after abandoning its original AI marketing tool and rewriting its entire codebase, and says it topped $1 million in annualized revenue within two months of stealth exit in July.