TLDR: Sam Kroonenburg’s AI-powered advertising agency, Cuttable, has successfully closed a $5.5 million seed funding round. The investment, led by Square Peg, positions Cuttable to revolutionize digital advertising by leveraging artificial intelligence to automate content creation and optimize campaigns, building on Kroonenburg’s prior success with A Cloud Guru.
Cuttable, the innovative AI-driven advertising technology startup co-founded by tech veteran Sam Kroonenburg, has announced the successful completion of a $5.5 million seed funding round. This significant investment, which occurred in July, was spearheaded by Square Peg, with additional participation from Rampersand and key strategic investors within the advertising sector. The funding underscores strong confidence in Cuttable’s vision to transform the digital advertising landscape through artificial intelligence.
Cuttable operates as an automated content marketing agency, often described as a ‘Canva-for-ads,’ enabling users to rapidly create digital advertising content at a reduced cost. The company’s core offering lies in its ability to combine advertising principles with advanced AI to deliver high-quality digital ads at scale, streamlining processes like creating, editing, and refining campaigns for various channels. This technology aims to alleviate the manual ‘grunt work’ often associated with digital marketing, such as resizing videos, allowing creative teams to focus on strategic initiatives.
Sam Kroonenburg, who serves as co-CEO alongside Jack White (co-founder of Melbourne ad agency Sunday Gravy), brings a formidable track record to Cuttable. Kroonenburg previously co-founded A Cloud Guru, an online learning platform, which he successfully sold for a remarkable $2 billion in 2021. His return to the startup ecosystem with Cuttable is driven by a profound belief in the transformative power of AI.
Kroonenburg articulated his enthusiasm for the venture, stating, ‘Cuttable represents a new frontier in advertising, where technology and creativity converge to deliver unparalleled results for marketers and agencies.’ He added, ‘The opportunity at Cuttable was too good to pass up.’ He further elaborated on the strategic timing of Cuttable’s emergence, identifying a collision of ‘megatrends’ in the industry. ‘You’ve got this megatrend where advertising has gone digital in a very short space of time and created this huge work problem,’ Kroonenburg explained. ‘On the other side, we’ve got this megatrend of AI right now and it can do creative parts of a job that only humans could do before. When those two megatrends collide, that’s where I see the opportunity.’
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Cuttable has already garnered an impressive client roster, including prominent names such as Wesfarmers-owned retailer Catch, Nando’s, and Powershop. The company’s ability to automate complex advertising tasks and deliver scalable solutions positions it as a key player in the evolving adtech sector, promising efficiency and innovation for its clients.
