Cuttable, a Melbourne startup that makes advertising software for ecommerce brands, has raised A$20m (about $14m) in a Series A round led by Airtree Ventures. The company announced the funding on 22 October 2026, alongside a relaunch of its product.
Square Peg, which led Cuttable's seed round, invested again, as did the existing investors Rampersand and Glitch Capital, according to Campaign Brief and Startup Daily. Campaign Brief reported that Brand Fund by Previously Unavailable, the venture studio behind the marketing-software companies Ideally and Tracksuit, has also backed the company since its seed round. Staff posts on Cuttable's LinkedIn page described the raise as a $20m Series A led by Airtree.
Cuttable did not disclose a valuation. Adweek reported that the round values the company at more than $100m, but said Cuttable declined to give a more specific figure.
“Everyone has taught AI to make ads. Almost nobody has taught the ads to learn.”Sam Kroonenburg, CEO and co-founder, Cuttable
What Cuttable does
Cuttable was set up in 2023 by Sam Kroonenburg, Ed Ring and Jack White. Kroonenburg founded the online training company A Cloud Guru, which Campaign Brief said was sold in 2021 for more than US$2bn. Ring previously worked in marketing at the vitamin maker Swisse. White co-founded the Melbourne creative agency Sunday Gravy, where Cuttable was incubated before it was spun out as a separate company in 2024, Campaign Brief reported.
Until now the software built ads for Meta and TikTok from a brand's own photos and video. The relaunched version adds a step before and after that: it reads how a brand's past ads performed and suggests what to make next, then feeds the results of each new ad back into the following round. It pulls data from Meta, TikTok and Shopify, and from marketing tools such as Klaviyo, Triple Whale and Motion. Shopify stock levels can change which products are promoted. Marketers can edit each ad, and Adweek reported that ads are published only after a person approves them.
Cuttable says it works with more than 440 ecommerce brands in Australia, New Zealand, the US, Asia and Europe, including lululemon, Cotton On, July, Kathmandu and Conserving Beauty. The company told Campaign Brief that brands average a 4.4 times return on ad spend after moving to its platform. Its LinkedIn page lists its headquarters as South Yarra, Victoria, and a company size of 11 to 50 employees.
Ads that learn
The company based the relaunch on its own analysis of more than 280,000 ads run by 680 ecommerce brands, covering US$260m of spending on Meta. It found that a brand needs about 42 ads to find one that clearly improves results, that 1% of ads earned half of attributed revenue, and that more than a third earned nothing.
Kroonenburg, Cuttable's chief executive, said the industry had focused on using AI to produce ads rather than on learning from how they perform. James Cameron, a partner at Airtree, whose firm also backed A Cloud Guru, said Cuttable had grown much faster than the firm expected when it invested at seed stage.
Campaign Brief noted that the relaunch came about five weeks before Black Friday, the busiest period of the year for ecommerce advertising.
What the money is for
Cuttable said it will spend the money on product development and on growing its teams in Melbourne, New York and San Francisco.
The company has raised several times before. According to Startup Daily, it raised $5.5m at a $44.5m valuation in 2024, added a $4.5m seed top-up in August 2025, and raised $5.7m at a $100m valuation in March 2026 to launch in New York. Startup Daily did not say which currency those figures were in.
Company website: cuttable.com