Marketing strategy Nectar Social raises $30M Series A led by Menlo

AI powered advertising platform Nectar Social he announced on Thursday that it raised a $30 million Series A round led by Menlo Ventures and His Anthology Fund, which was jointly developed with Anthropic.

The company, which came out quietly last year, is a way to manage advertisers. It told TechCrunch that it uses autonomous AI assistants to help brands drive “team action, management, production processes, competitive intelligence and end-to-end marketing communications.” It also has a data partnership with companies such as Meta and Reddit that allow Nectar to pull and collect data in one place from different platforms, instead of businesses that need to use different tools to manage different platforms.

Nectar Social was founded by sisters Misbah and Farah Uraizee, former employees of Meta. Misbah, the CEO, told TechCrunch that the round will help the company grow and hire more people in AI applications, design, and go to market.

“Purchase negotiations have entered social media, and no group of people can work wherever they happen,” Misbah said. “We’re advancing our team by creating an operating system that allows colors to appear anywhere.”

The company said customers include Liquid Death, Figma, and elf Beauty. Other investors in the round include Gwyneth Paltrow’s Kinship Ventures, GV, and True Ventures.