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B2B advertising has always been expensive to get wrong. And most enterprises are getting it wrong – not for lack of effort, but for lack of intelligence.
Campaigns launch with generic messaging. Ad spend gets distributed across personas with different pain points. The feedback loop between what resonates with buyers in sales conversations and what runs in ads remains disjointed.
Every company we talk to at the Series C and beyond is frustrated with their ad agency. Not because they don’t want expert help – they do – but because agencies operate on intuition and relationships rather than data-driven insights. The result is a persistent, expensive disconnect between what enterprises know about their best customers and what actually appears in front of their target buyers.
That’s the problem. And that’s exactly why we’re excited to announce our investment in Multiply.
What Multiply Does
Multiply is the first AI-native media agency built specifically for B2B companies. It plugs directly into data a company already has – call recordings from Gong, CRM closed-won data, case studies, website content, competitive kill sheets, product documentation – and uses that intelligence to build and continuously optimize campaigns with a precision no human-run agency can replicate. Today, Multiply focuses on Google Search ads and LinkedIn ads, and is already helping customers prepare for ChatGPT ads.
Its AI agents work in concert with one another:
- Customer Insights Agents extract real buyer language from sales calls to personalize ads
- ICP Agents analyze closed-won deals to refine targeting
- Quality Score Agents tune copy and keyword alignment
- Creative Agents refresh imagery weekly
- A/B Testing Agents runs hundreds of structured experiments simultaneously, rapidly surfacing winners and cutting losers
- Experienced Media Buyers oversee every campaign for strategy, brand safety, and compliance
The results speak for themselves. Vanta reported a 770% increase in sales meetings with the same ad spend. Listen Labs saw LinkedIn become its most efficient paid channel, performing five times above benchmarks. Across customers, the common thread is 300-500% pipeline improvement – with speed, experimentation velocity, and lead quality rising together rather than trading off against each other.
Built by the Right People
Our conviction in Multiply starts with co-founder and CEO Matt Jayson. Before founding Multiply, Matt spent years at Google and Brex developing a deep obsession with one question: why do enterprises win or lose deals? He kept pressing senior marketing leaders across B2B for an answer, and kept hearing the same thing – the gap between sales intelligence and ad targeting was costing companies real money.
But Matt also identified a second, compounding problem. He calls it “decaying ads”: advertising has always worked like a depreciating asset. The moment a campaign launches, its value starts to erode. Creative goes stale within hours. By the time a campaign finds its audience, that audience has already moved on.
Multiply is his answer to both problems.
His co-founder and CTO, Ashish Warty, brings the engineering depth to match Matt’s ambition. Ashish served as SVP of Engineering at HackerOne and previously held senior leadership roles at Dropbox and Airship. Together, they’ve built a system that learns and iterates faster than any traditional agency model ever could.
Together, they’re the kind of founding pair that makes you believe the category is theirs to define.
Why Now
There is a lot of AI hype. We at Sorenson Capital aren’t interested in hype. What we look for are companies that deploy AI in ways that produce demonstrable, measurable ROI for enterprise customers – and do it in domains where the status quo is genuinely painful.
B2B advertising fits that criteria exactly. The industry is large – $50 billion and growing. The inefficiency is systemic. And the alternative – overpaying an agency that guesses – is one every enterprise is ready to abandon.
Multiply doesn’t live on top of existing tools. It’s a new operating model for how B2B companies go to market: a compounding growth engine that gets smarter with every campaign, every call, and every closed deal.
We’re proud to be a part of Multiply’s $9.5 million round alongside Mayfield and a remarkable group of angels, including Instacart Co-Founder Max Mullen, Google Head of Gemini Josh Woodward, and executives from HubSpot, Braze, Brex, Sierra, and Common Room.
For marketing leaders ready to close the loop between sales intelligence and paid media, and gain a new strategic channel for growth – Multiply is the solution!
This portfolio company update is provided for informational purposes only and is not a solicitation to invest in any security. This post was prepared by Sorenson Capital based on internal and third-party sources (including publicly-available sources) which it believes to be reliable. However, Sorenson Capital makes no representation as to the accuracy or completeness of such information. It should not be assumed that other portfolio investments will be profitable or equal to the success of the company profiled in this post. A complete list of Sorenson Capital investments is available upon request.
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