Advertising technology startup LoopMe has raised an additional $17m in a round led by BGF, with participation from existing shareholders.
The cash will allow the company, which specialises in AI-driven marketing solutions, to expand its capabilities with focus on the US market.
Existing investors HV Holtzbrinck Ventures, Harbert European Growth Capital, Open Ocean and Impulse VC contributed to the round.
CEO Stephen Upstone said: “Brands need marketing solutions which deliver a business impact – sales, customers in stores and strong brand sentiment. This additional funding will allow us to bring our award-winning technology, which is proven to move the needle on these KPIs, to brands and agencies worldwide”.
The investment was led for BGF by Sarah Ledwidge, Tom McDonnell and Tim Rea.
Ledwidge, investor at BGF, will be joining LoopMe’s board.
New data highlights increase of seller fraud
“We were impressed with the results that LoopMe’s technology was able to deliver clients and the positive response to the platform in the marketplace. The use of artificial intelligence enables LoopMe to deliver measurable, incremental value, improving ROI and occupying a vital place in brands’ marketing strategy,’ they said.
LoopMe’s technology has been used by brands including Norwegian Air, Jockey, Ben & Jerry’s, Microsoft and Audi.
The startup’s proprietary tech learns how people react to advertising and changes their advertising experience based on their individual feedback loop.
News of the investment comes after the company closed a $10m round in a continuation of its Series A funding round in March last year.