San Francisco, Calif.-based generative AI startup Typeface emerged from stealth mode with an oversubscribed $65M funding round.
CEO and founder Abhay Parasnis said, "By adding brand affinity to generative AI, Typeface allows enterprises to harness their collective creative power for unique expression of their stories and imagination."
- Typeface leverages AI to generate branding, marketing, advertisement, and blog content for enterprises.
- Lightspeed Venture Partners, Alphabet's GV, Menlo Ventures, and Microsoft's M12 led the firm's fundraiser.
- Parasnis previously held the CTO position at Adobe.
- Typeface's fundraiser comes as ad agencies start leveraging generative AI tools such as OpenAI's Dall-E 2 and Midjourney to create AI-generated creatives for advertisements.
- The Drum anticipates the generative AI market to balloon to over $110B by 2030.
