Former Adobe CTO Raises $65 Million To Help Businesses Generate Marketing Content With AI
Typeface is a platform formed on the ChatGPT and Stable Diffusion models that can create custom blogs, Instagram posts, and business websites.
Abiy Parasnis, former CTO of Adobe, wants to use AI powered by OpenAI, sustainable delivery models and computer vision to help companies create branded content. His startup Typeface, which he founded in June 2022, has now raised $65 million in Series A funding to support marketing and communications content such as blog posts, Instagram posts, websites and offers. employment. LinkedIn.
One of the challenges companies face is that it can take years to find the skills a market needs, Parasnis said, making it difficult to find the right people.
"In the world I come from, it takes ten years to master Photoshop to create the most amazing content," Parasnis told Forbes .
Enter the font. The startup allows businesses to upload their content such as websites, blogs, Instagram posts, brand logos, and other visual assets. This custom dataset is used with publicly available data to produce a Typeface model based on OpenAI GPT-3.5 and a custom version of Stable Diffusion 2.0. The platform is designed to analyze company data and create textual and visual content tailored to each company's brand voice and audience.
Investors in Tyface's funding round announced on Monday include Lightspeed Venture Partners, GV (formerly Google Ventures), M12 (formerly Microsoft Ventures), and Menlo Ventures.
The presence of two AI heavyweights speaks volumes. "Microsoft and Google are two names...in the great AI war, if you will, and Typeface is the only company they both love." They both wanted to be part of the team with a unique perspective on the business,” says Parasnis.
Venture capitalists were ready to invest before Typeface sought to raise money, he says, because of the top talent on the startup's team, which includes engineers working on the CoPilot programming assistant powered by the 'AI from GitHub; On Microsoft Azure and Adobe. Typeface, which licenses the product, did not reveal the number of people on the team.
One of Typeface's first customers was Sequoia Benefits Group, which uses the platform to create thousands of job descriptions and five versions of its website, each tailored to a specific audience, Parnis said. The startup wouldn't say how many customers it has.
While Typeface allows a business to capture details and context so the template can create more specific and accurate content, its capabilities are limited. For example, Typeface still doesn't create video content, even though a study found that over 80% of businesses use video for marketing purposes. In the future, Typeface plans to introduce AI for creating videos and animations. Although it is still in its early stages of development, some players such as Movio, Meta and Stable Diffusion have launched AI tools for video creation.
In Parasnis' eight years as CTO and CEO of Adobe, as well as leadership roles at Oracle and Microsoft, Parasnis has seen companies enthusiastically integrate cloud computing and office productivity tools. With DALL-E 2 and ChatGPT going viral last year, he says it's time for companies to incorporate generative AI into their content workflow.
Artificial intelligence for content marketing is generally a crowded industry, and Typeface has to contend with proven competitors like Jasper and Mangyward. Crystal Huang, a GV venture capitalist who has invested in Typeface, said despite the competition, "there is room for multi-billion dollar businesses" in the space.
As generative AI gains momentum, more and more startups are using these tools for enterprise applications. Sarah Guo, venture capitalist and founder of investment firm Conviction, has seen at least 30 startups in recent months. But the real differentiator says, "A mind on existing products is not worth generative intelligence."
Guo thinks successful companies will reconsider the last experiment. He said it happens when models like OpenAI GPT 3.5 and Stable Diffusion are trained on shared public data and filtered or overlaid on specific datasets depending on the target while anyone can use it.
"It's probably not just an empty text field with an API if you don't have one," Guo says.
With Typface, Parasnis wants to rethink the entire business content cycle. "We're not just a wrapper for low-level APIs," Parasnis told Forbes .
One of the most important issues for a company is the security of data and brand image. Companies want to make sure they don't create inaccurate, plagiarized, or offensive content that might defame them. Parasnis says that one of the main reasons why brands don't want to use OpenAI or Stable Diffusion directly is that they are open and can lead to unpleasant results.
The font is built on the Stable Diffusion and OpenAI datasets which contain data at risk of copyright infringement. In February, Getty Images sued Stability AI for copyright infringement. This may cause some reluctance to accept customers, but legal liability issues are not certain. Stability AI responded to the charge. “Please know that we take these questions seriously. We are studying the documents and we will answer you.
“A big brand wants to control what exists. Is the brand reliable? Is high quality enough? Does this include our colors and brand vibe? Is it compatible with existing campaigns? You can't let this get out of hand,” says GV Huang.
To address some of these issues, Typeface is built on Microsoft's Azure OpenAI framework, which allows the user to configure content moderation controls, data management, and security controls, which Typeface does per organization. . According to Parasnis, Typeface is not responsible for all security issues, as their product and approach is aimed at giving businesses control over their data, models, and results. Parasnis said, "The Bible does not govern the safety rules of all companies. These companies do have a voice."
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