Most ad campaigns start fading as soon as they launch. The message loses sharpness, the creative becomes familiar, and performance slips. San Francisco-based Multiply has built its business around fixing what it calls decaying ads.
Multiply has emerged from stealth with $9.5 million in funding to push a new approach to B2B advertising, one that it believes can fix one of the industry’s oldest problems, which is ads that lose their edge the moment they go live.
The round was led by Mayfield, with participation from Sorenson Capital, Instacart co-founder Max Mullen, Google Head of Gemini and Google Labs Josh Woodward, and executives from HubSpot, Braze, Issuu, Brex, Sierra, and Common Room.
What is the traditional approach, and how is Multiply improving on that?
The company’s co-founder & CEO Matt Jayson, detailed the differences between traditional approach and that of Multiply to TFN. As per the same, in the traditional approach, “The company hires an agency. The agency runs intake sessions but captures only a fraction of what actually drives customers to buy. Campaigns launch; lead quality is mixed; feedback loops are slow; and eventually the agency gets replaced. Then the cycle repeats.”
On the other hand, detailing Multiply’s approach, he added, “We plug directly into sales calls and CRM data to learn customer pain points and buying triggers. Our AI agents then launch hundreds of experiments to find what messaging and audiences break through. The result is dramatically better lead quality and often 300% to 500% more pipeline from ads.”
What is the company’s origin story?
Multiply was founded by Matt Jayson, formerly at Google and Brex, and Ashish Warty, former SVP of Engineering at HackerOne and an engineering leader at Dropbox and Airship. Their ambition goes beyond improving search and social ads.
The cofounder stated, “My/Matt’s first job was at Google, where I oversaw a media agency responsible for user acquisition. I quickly discovered we were wasting millions because our customer segmentation was wrong, which meant our campaigns were wrong. A decade later, leading teams at Brex, I saw the same pattern. Segmentation was still the hardest problem. But when we personalised outreach, messaging, and product correctly, we landed companies like DoorDash and Coinbase. Ashish and I started Multiply to help B2B companies get discovered by their dream customers.”
The startup says it is already preparing customers for emerging formats such as ChatGPT ads, with infrastructure designed to extend campaign learnings into conversational and AI-driven ad experiences.
A new model for B2B ad performance
Multiply calls itself the first AI-native media agency for B2B companies. Rather than offering software alone, it builds the underlying technology and then works directly with customers to run campaigns.
Its core product is what the company calls Self-Learning Advertising. The system draws on internal company data such as sales meeting recordings, CRM records, and customer emails to create and refine ad campaigns continuously. Instead of allowing creative to go stale, it keeps updating copy, targeting, design, and testing based on what real buyers are saying and doing.
That model is built around close collaboration between software and strategy. Multiply’s team acts as an extension of the customer, using its tools to run campaigns faster and more precisely than a traditional agency setup would allow.
First-of-its-kind AI media agency
Multiply is touted as the first AI media agency, built specifically for B2B companies. The company has developed a set of specialised agents to handle different parts of the process. Matt stated, “We build AI software to create and optimise ads, but we don’t just sell software. We’ve hired expert strategists who use our AI software to provide a managed service for LinkedIn ads and Google ads. Most customers see 300 to 500% improvement in leads, sales meetings, or pipeline from ads.”
He further detailed, “Our AI agents unlock work that was never before possible or scalable.” These are as follows:
Customer Insights AI Agent: Extracts customer quotes from sales calls and use to personalise ads to similar customers.
- ICP Agent: Analyses Closed Won deals to refine your ICP and build super-targeted audiences.
- Quality Score Agent: Continuously improves Google Quality Scores by tuning copy and keyword alignment.
- Creative Agent: Creates and edits images and documents, and refreshes creative weekly.
- A/B Testing Agent: Runs 100s of structured experiments, identifies winners, and cuts losers.
How has Multiply benefited businesses?
Multiply launched first on Google and LinkedIn, where many B2B brands spend heavily to generate leads and pipeline. The company says the results have been striking. Across customers, it reports 300% to 500% improvements in sales meetings booked and pipeline generated. In one case, a company saw a 900% boost after moving from another media agency.
Some of its early customers are already sharing specific outcomes. Vanta said it recorded 770% more sales meetings while working with Multiply. Listen Labs said LinkedIn became its most efficient paid channel for new leads, with campaigns performing five times above LinkedIn benchmarks. Multiply says it has already helped customers generate thousands of leads and tens of millions of dollars in pipeline.
Future plans
Mutiply’s roadmap includes expansion to additional channels, daily creative refreshes, unified cross-channel attribution, and budget allocation that shifts automatically toward the strongest-performing platforms.
Its bet is that the future of B2B advertising will belong to campaigns that not only launch well but also keep getting smarter after launch.
Its planned expansion includes:
- Coverage across all major B2B ad platforms, including Meta, Reddit, G2 and others.
- Daily creative refresh powered by AI.
- Unified attribution across channels.
- AI dynamically shifts media spend across channels to maximise pipeline impact.
He further added, they have “13 employees today. It is expected to reach 25 by the end of the year.”
Multiply Co-Founder & CEO Matt Jayson explains that “Modern companies already have all the data needed to create radically better ads. Sales conversations, CRM systems, and pipeline outcomes reveal exactly why customers buy – yet those insights rarely make their way into ad campaigns fast enough.” Today, Multiply focuses on Google Search ads and LinkedIn ads. The company connects directly to sales call recordings, CRMs, and ad platform performance data to generate new creative and messaging aligned to why buyers choose a company over competitors. Hundreds of structured experiments run continuously, refining audiences, copy, and creative, so campaigns improve every week–instead of declining.
Jayson describes the company’s ambition: “We help companies get discovered by their dream customers. 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.”
Ashish Warty, Co-founder and CTO of Multiply, describes, “Together, these systems allow Multiply to iterate faster than any traditional agency model. Brand safety is paramount. Every campaign includes human oversight from experienced media buyers, and we work within each customer’s brand and compliance requirements. We move as fast as their teams and systems allow.”
“There is a major shift happening in the $50B B2B advertising market,” said Patrick Salyer, Partner at Mayfield and Multiply board member. “Service-as-Software is redefining how companies grow, and Multiply has built the first AI model for B2B advertising. Instead of static campaigns managed manually, Multiply has become a compounding growth engine for every company it partners with.”
