startup-funding

Ex-Ramp engineers raise $20M for platform Melius after scrapping their first product

Melius, a New York startup founded by three former Ramp engineers, raised $25 million in total funding — a $20 million Series A led by CRV and a $5 million seed round led by General Catalyst — to build an AI platform for generating ad campaigns, images, and videos. The company pivoted from an earlier performance-marketing product, relaunched from stealth in July, and says it reached more than $1 million in annualized revenue within two months of that relaunch.