Multiply Raises $9.5M to Build AI-Native Media Agency for B2B Advertisers

San Francisco-based Multiply emerged from stealth on March 18 with $9.5 million in funding to introduce what it calls "Self-Learning Advertising," where ads use internal company data to continuously improve rather than decay after launch.

The seed round was led by Mayfield, with participation from Sorenson Capital, Instacart co-founder Max Mullen, and Josh Woodward, Google's VP of Labs and Gemini, the executive credited with building NotebookLM and overseeing Google's flagship AI app. Patrick Salyer, Partner at Mayfield and a Multiply board member, framed the bet plainly: "There is a major shift happening in the $50 billion B2B advertising market. Service-as-Software is redefining how companies grow, and Multiply has built the first AI model for B2B advertising."

Co-founder Matt Jayson calls the core problem "decaying ads," describing it as a structural failure of how digital advertising is built: campaigns that start losing effectiveness the moment they go live, because the feedback loop between what customers actually say and what the ads actually say is too slow. Jayson's answer is a system that never stops testing. "We help companies get discovered by their dream customers," he said in a statement. "To do this, we've built the world's most insatiable AI agent. Just like a great growth marketer, it's never satisfied. There's never enough pipeline. So it keeps learning, testing, and finding ways to get better."

The system breaks into five AI agent components. The Customer Insights Agent extracts real customer language from sales calls to personalize ads. The ICP Agent analyzes closed-won deals to refine targeting. The Quality Score Agent continuously tunes copy and keyword alignment. The Creative Design Agent refreshes images weekly. The A/B Testing Agent runs hundreds of experiments, quickly identifying winners and cutting losers. Multiply feeds all of it from internal company data including sales call recordings, CRM systems, and pipeline outcomes.

To operate at that scale, Multiply didn't just build AI software. The company runs as a media agency staffed by expert strategists who use the proprietary AI to operate campaigns at speeds previously impossible. Co-founder and CTO Ashish Warty is direct about where the human layer fits: "Every campaign includes human oversight from experienced media buyers, and we work within each customer's brand and compliance requirements." Rather than offering software alone, it builds the underlying technology and then works directly with customers to run campaigns. Clients pay for outcomes; Multiply does not sell platform access or software seats.

Multiply launched first on Google and LinkedIn, where many B2B brands spend heavily to generate leads and pipeline. The company is already signaling where it intends to go next. OpenAI began testing ads inside ChatGPT in early 2026, with a format that matches the intent of a conversation rather than a keyword: a CFO reasoning through a purchase decision inside ChatGPT would see ads relevant to that context, not to a search term. ChatGPT ads currently carry a $60 CPM and a $200,000 minimum commitment, making an agency partner essential for most mid-market B2B companies. Multiply says it is already helping customers prepare for the channel.

The early performance claims are striking. Companies using Multiply have seen 300 to 500% improvements in sales meetings booked and pipeline generated from ads. Vanta, a security automation specialist that has raised over $500 million from Sequoia Capital and other top VCs, reported 770% more sales meetings. Listen Labs, an AI customer research platform backed by $100 million in funding, said LinkedIn became its most efficient paid channel for new leads, with campaigns performing five times above LinkedIn benchmarks. In a direct head-to-head test, a fast-growing AI startup split its advertising budget between an established media agency and Multiply. Multiply's AI ran 142 structured experiments over two months, generating six times more leads in the first month and five times more sales meetings in the second.

Jayson previously worked at Google in user acquisition and then at Brex as Head of Product for core experiences. His co-founder and CTO, Ashish Warty, spent five years as SVP of Product and Engineering at HackerOne and held senior engineering roles at Airship and Dropbox. Looking ahead, Multiply intends to expand into a full omni-channel ad buyer for B2B companies, with a roadmap that includes expansion to additional channels, daily creative refresh, unified cross-channel attribution, and AI-driven budget allocation across platforms to maximize pipeline impact.