Cuttable, a startup based in Melbourne, uses AI tools to create ads for Meta platforms like Facebook and Instagram. The company has raised an extra A$4.5 million in seed funding, led by Square Peg.
This new funding round also includes support from existing investor Rampersand and Brand Fund. With this, Cuttable has now raised a total of A$10 million in seed funding after a year of building its product.
“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,” says Kroonenburg, Cuttable’s CEO who co-founded the startup alongside Sunday Gravy founder Jack White and Ed Ring, a former marketer at Swisse.
“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.
“This kind of backing at the seed stage is rare in Australia. It reflects how big this opportunity is, and how strongly investors and customers believe in what we’re building.”
Cuttable went public just three weeks ago, and many popular brands quickly started using the platform. These include Merry People, Frank Body, Bare Leather, Mihan Aromatics, Metagenics, Zorali, St. Ali Coffee, Bobby Soft Drinks, Bondi Active, Hunter Lab, LNDR, and Elita Genetics.
Founded in 2012, Square Peg is an investment firm that supports technology startups and growing companies. It invests in businesses at different stages of growth.
The firm has offices in Australia, Israel, and Southeast Asia, and focuses on areas like artificial intelligence, fintech, and software-as-a-service (SaaS).
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