Recast, a marketing data measurement and analytics solution, raised USD 3.4 million in a seed round. Lerer Hippeau, a seed-stage investor in the US, led the round. Data Tech Fund, Vibe Capital, and other Angel Investors also participated in the round. This brings the company's total funding to USD 4.5 million.

Founded in 2020, Recast offers an AI-powered marketing data measurement solution to help marketers measure and optimize their marketing spending. The firm uses Bayesian statistics and data pipelines to provide real-time performance measurement in a privacy-preserving manner for social media, streaming TV, search, and podcasts.  The firm also provides an optimizer and forecaster tool for monitoring marketing spending and targets. The firm's solutions are used by both firms and marketing agencies including Harry’s, Masterclass, Breeo, Away, and Rocket Money.

The funds will be used to Recast plans to use the investment to scale the software engineering and data science teams to accelerate its product development.

Analyst QuickTake: In the face of challenges posed to marketers due to the planned elimination of third-party cookies and changes to privacy regulations, firms such as Recast which provide solutions to ad measurements in a privacy-preserving manner have been gaining interest. Recast’s claim that its solution provides full-funnel, cross-channel visibility for offline and online channels is a key competitive edge.