Deals · Updated 7 Oct, 04:04 am IST
Ex-Ramp founders raise $25M for Melius after pivot to AI creative platform
Why it matters for readers: Explains that startups may scrap whole codebases and shift strategy when the first product doesn't work.
- Melius raised $25 million total: a $20 million Series A led by CRV and a $5 million seed led by General Catalyst.1
- The startup says it reached more than $1 million in annualized revenue within two months of coming out of stealth in July.1
- Founders Joowon Kim, Young Kim and Arnav Ramu — all ex-engineers from Ramp — ditched their first product after six months and rebuilt a new platform.1
- The company repositioned itself as an "agents lab for creative work," focusing on generating ad campaigns, images, and videos.1
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