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

Former Ramp engineers have successfully secured $20 million in funding for their new venture, Melius. The startup, which initially aimed to assist marketers in managing and optimizing ad spend, has pivoted its business strategy. Following the decision to scrap their original product, the founders are now focusing their efforts on developing a platform dedicated to generating creative assets and advertising campaigns. This funding round highlights continued investor interest in founders with backgrounds at high-growth fintech companies. By shifting their focus toward generative tools, the Melius team aims to streamline the creative workflow for marketing teams. The significant capital injection will likely be used to scale their engineering team and accelerate product development as they enter a competitive market for AI-driven marketing solutions.