Holtzbrinck Ventures and Open Ocean Capital fund mobile and games advertising pioneer
Embargoed 00.01, 25th March 2014, London: LoopMe, the global pioneer in social mobile advertising today announced the closure of a $3 million funding round which saw the game changing London headquartered firm secure the backing of major funds with publishing, mobile games, advertising and big data credentials.
The funding will be used to support LoopMe’s vision of social advertising revolutionising mobile and games advertising. LoopMe empowers consumers to make advertising more effective by enabling sharing and adding social endorsement and feedback (“like”, stop, share and tweets or comments about products) to ads allowing others to socially discover adverts on smartphones and tablets and making advertising more transparent and effective.
Having already experienced strong revenue growth globally from mobile games advertisers and reaching profitability LoopMe will use the new funds to continue its global expansion and further development of proprietary artificial intelligence and social discovery technology. LoopMe now employs 30 people from its London headquarters and plans to accelerate recruitment at a global level, whilst also building upon its team of senior industry advisors.
The company’s expansion will see LoopMe seek additional opportunities in markets including the US and Asia, where significant success has been seen to date in the gaming sector. The company will also continue to develop its targeted brand advertising campaigns in video and rich full screen experiences.
Holtzbrinck Ventures has over a decade of experience in the internet sector and has successfully backed more than 100 start-ups. Holtzbrinck Ventures’ success stories include funding ecommerce giant Zalando, Citydeal (acquired by Groupon creating a large part of its European offering) and backing Wooga, one of Europe's largest developer of social mobile games.
Open Ocean Capital has a deep background in supporting big data projects and its partners are credited with driving MySQL from start-up to a $1 billion business. LoopMe will be joining its portfolio of companies utilising big data and deep analytics to develop revolutionary software products.
Kristian Segerstrale, has also made a personal investment in LoopMe . Kristian is based on the West Coast and is becoming an advisor to the business helping LoopMe to continue to capitalise on opportunities in the US. Kristian was early investor in and board member of mobile games giant Supercell valued at over $3bn today. Previously he was a co-founder of mobile game pioneer Glu Mobile (Nasdaq: GLUU, formerly Macrospace) and Playfish, the social gaming pioneer, where he served as CEO through the company's rapid growth to 60 Million players and the subsequent acquisition by Electronic Arts for $400M in 2009.
Barbod Namini of Holtzbrinck Ventures said “In LoopMe we found a world class team with the clear vision to innovate and lead in mobile advertising. With a tremendous global reach of shareable rich media and video ads and Big Data Artificial Intelligence capabilities, LoopMe is set to disrupt the mobile advertising landscape and completely redefine the way end users socially engage with ads.“
Stephen Upstone, CEO and co-founder of LoopMe is seeing huge opportunities in social mobile advertising discovery in the coming years, “People love to share video and content on mobile devices and advertising can be like other content – shareable, findable and rateable. We are enabling consumers to share and rate adverts, games and the products that they represent. This is an important time for brands to consider the importance of endorsement and advocacy in the way in which their messages reach consumers, and LoopMe is supporting this by pioneering new technology that reaches of hundreds of millions of consumer around the world each month.”
LoopMe uses big data including artificial intelligence and machine learning to identify which pieces of content are best for which users at which point in time. The LoopMe platform integrates seamlessly into other publishers’ applications including most of the world’s largest apps and games, many of which have achieved over a billion downloads giving LoopMe massive global reach.
LoopMe was represented by Orrick, Herrington & Sutcliffe.
LoopMe empowers consumers to make advertising more effective by making rich media advertising and video shareable and adding voting (“like” and “stop”) to ads allowing others to socially discover adverts on smartphones and tablets. LoopMe uses artificial intelligence to improve the customer experience and results for advertisers and publishers from advertising on smartphones and tablets. At the right time and place, great advertising, products and offers can equate to great content for consumers their friends and the people they trust.
LoopMe was founded by experienced mobile advertising executives Stephen Upstone (CEO) and Marco Van de Bergh (CTO), with the intention of making advertising less intrusive, more enjoyable, valuable and relevant, giving mobile consumers the confidence to browse, interact and purchase from their mobile devices.
For more information please visit www.loopme.com or contact the team.
PR & Marketing Director
T: (+44) 7985 595 510
CEO & Founder
T: (+44) 7801 953 743
Marketing Account Manager
T: (+44) 20 7193 6516