Downstream.ai raises $1.5 million for AI-driven programmatic ad platform

The founders of Grow Mobile are back with a new ad tech startup called Downstream.ai. Co-CEOs Brendan Lyall and A.J. Yeakel are announcing that they have raised $1.5 million in seed funding for Downstream.ai, which provides a self-serve platform for ad agencies and marketers to automatically place ads across a variety of mobile platforms.

San Francisco-based Downstream.ai is launching its beta program today. It raised the money from London Venture Partners, with participation from Olive Tree Capital, Otter Consulting, Gramercy Fund, Ride Ventures, Rising Tide, and a short list of prominent industry angels. Paul Heydon, general partner at London Venture Partners, has joined Downstream’s board. The interesting thing here is that AI is adding a fresh new wave to ad tech, which has been consolidating in the past couple of years as targeted mobile ad marketing runs its course.