Copy.ai is a startup that builds AI-powered copywriting tools for business customers. The company is one of the many startups that have been built on top of the GPT-3 natural language processing technology created by Open AI.
VCs are exuberant about the possibilities of startups building on GPT-3 like Madrona’s Matt McIlwain who said that “the introduction of GPT-3 in 2020 was a tipping point for artificial intelligence” that will lead to “the launch of a thousand new startups and applications.”
Other notable startups busy leveraging GPT-3:
- OthersideAi whichraised $2.6 million back in November of 2020
- "AI Dungeon-maker" Latitudewhich raised $3.3 million in February
Copy.ai recently raised a $2.9 million round led by Craft Ventures with other investors including Li Jin’s newly-formed Atelier Ventures and Sequoia.
David Sacks, the founder of Craft Ventures, said “natural language generation powered by AI is going to change the way that marketing teams write copy,” adding that amongst startups it is “rare to see such strong bottom-up adoption in so short a time.”
That sounds right – when it was released back in October of 2020, Copy.ai raked in 2,000 sign-ups in its first two days.
Building in public
Founder Paul Yacoubian is also a big fan of building in public. He has tweeted monthly updates since the company’s inception. According to those tweets, business at Copy.ai is brisk – they generated monthly recurring revenue of $53,600 in February up 46% from January.
The philosophy at the company seems to be an open book. The monthly updates share user tallies and usage as well as the growth in Twitter followers of the company and even the founder himself.