Goldman Sachs just invested millions in an artificial intelligence startup

Lynsey Barber
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Toy robots which will make up one of the
Persado's technology creates content (Source: Getty)

The banking world, and now Goldman Sachs in particular, is getting on board with artificial intelligence.

The investment bank has put millions into a US startup which uses machine learning for marketing.

The $30m round for New York-based Persado also came from previous investors American Express Ventures and Citi Ventures, as well as Bain Capital Ventures and StarVest Partners.

“We are increasingly excited about Persado’s ability to build a thriving business around a truly unique and differentiated technology. It stands out for driving great results for an impressive roster of customers - the world’s most recognisable brands - with unparalleled consistency and effectiveness," said StarVest Partners genereal partner and co-founder Laura Sachar.

Persado, a so-called cognitive content company, uses natural language processing and machine learning algorithms to create targeted marketing messages and is used by Vodafone, eBay and Expedia, as well as investors AmEx and Citi.

It's a series C funding round for Persado which counts 200 staff in London and San Francisco as well as New York.

Goldman Sachs earlier this year invested in London-based data analytics startup Qubit.