AI Start-Up Auxia Raises $23.5M to Revolutionize Customer Data Use

Auxia, a start-up founded by former Google and Meta executives, announced a $23.5 million funding round led by VMG Technology Partners. The company aims to help large enterprises effectively utilize their customer data by providing a specialized AI platform. The investment round saw participation from Incubate Fund, MUFG Financial Group, and over 50 industry leaders.

 According to VMG Partners, companies are facing rising customer acquisition costs due to market concentration by major tech firms like Google, Meta, and Amazon. Auxia's platform employs 'agentic AI' to analyze customer data and deliver tailored experiences across channels.

Since its launch in early 2024, the start-up has attracted several Fortune 1000 clients and has seen significant improvements in customer lifetime value and onboarding completion rates. With the new funding, Auxia plans to expand its engineering team and develop new AI capabilities to address the increasing demand for personalized marketing solutions.

Source: Venture Beat