Proxima

Company Overview

Proxima is an AI-powered data intelligence platform for eCommerce and marketing. The company provides predictive analytics and custom audience solutions to help brands optimize their digital advertising and marketing strategies. Proxima was founded with the mission of helping modern brands navigate the changing digital landscape and maximize marketing performance using AI-powered solutions that were previously only accessible to large enterprises.

Products Overview

Proxima offers two main products:

1. AI Audiences - Custom audiences for paid social advertising, built using machine learning and millions of commerce insights. This helps brands target high-intent shoppers and improve ad performance on platforms like Meta and TikTok.

2. Intelligence (beta) - Analytics and tactical benchmarks to help brands make data-driven decisions. This includes Meta ads benchmarking, customer insights, cohort analysis, and other business intelligence tools.

The platform leverages a proprietary database of over 65 million unique U.S. eCommerce shoppers and $17 billion in transaction data across 12,000+ first-party data integrations.

Founding Team

While specific details on the founding team are not provided, the company states it is “led by eCommerce and marketing technology veterans who have built over 8 companies.” The CEO and co-founder appears to be Alex Song, based on his authorship of company announcements.

Problem and Market Fit

Proxima aims to solve challenges many direct-to-consumer (DTC) businesses face in efficiently scaling their marketing and customer acquisition, especially after privacy changes like iOS 14.5 made targeting more difficult. The platform provides AI-powered solutions to help brands improve ad targeting, reduce customer acquisition costs, and maximize customer lifetime value in a privacy-compliant way.

Business Model

Proxima operates on a SaaS (Software-as-a-Service) model, offering its AI Audiences and Intelligence products to eCommerce brands and marketers. The company likely charges subscription fees based on usage or ad spend levels.

Funding and Runway

In November 2023, Proxima announced raising a $12 million Series A funding round led by Mucker Capital. No other specific funding details are provided.

Competitive Landscape

While specific competitors are not named, Proxima positions itself as a unique solution in the post-iOS 14.5 landscape where many brands have struggled with digital advertising performance. The company claims to outperform platforms’ native targeting options like Meta’s Advantage+.

Customers

Proxima works with many leading eCommerce and DTC brands, including:

• Wandering Bear Coffee
• Gorjana
• Blue Bottle Coffee
• Obvi
• Hint Water
• C4 Energy
• BUBS Naturals
• Venus et Fleur
• Caraway
• Lomi
• Kopari
• SolaWave
• Gobble
• Joe & The Juice
• Canopy
• Act+Acre
• Ten Thousand
• Public Rec
• Tide
• Homestead Studio

Relevant News

• November 2023: Proxima raised a $12 million Series A funding round led by Mucker Capital.
• Q1 2024: The company provided a product update highlighting progress on “democratizing data intelligence” for brands.
• March 2024: Proxima published insights from attending the Shoptalk 2024 conference, noting the major focus on AI applications in eCommerce.

The company appears to be in a growth phase, expanding its product offerings and customer base in the competitive eCommerce marketing technology landscape.