Ex-Ramp engineers pivot to AI creative tools with $20M Series A

The company, led by co-founders Joowon Kim, Young Kim, and Arnav Ramu, raised the capital in a round led by CRV, following a $5 million seed round backed by General Catalyst. Despite a difficult start, Melius reports hitting over $1 million in annualized revenue just two months after exiting stealth in July. The team’s transition from optimizing ad spend to building creative tools reflects a shift toward generative AI, positioning Melius as an "agents lab" for marketers and brands.

Joowon Kim remains unfazed by a crowded landscape that includes well-funded rivals like Higgsfield, which currently commands a $5.4 billion valuation. He views the market’s density as a sign of high demand rather than a barrier to entry. For Kim, the venture serves a personal ambition: providing creators with the accessible production tools he lacked while attempting to build his own media projects years ago. By allowing users to generate complex assets through plain language, the platform aims to democratize a process that once required advanced technical proficiency in software like FinalCut Pro.