LoopMe completes $7 million Series A funding and hits profitability
Press Release 16/12/15
Artificial intelligence start-up LoopMe, the leading mobile video platform, announced today that it has hit profitability amid a wave of global expansion which has seen it conclude Series A funding, launch operations in Paris and Berlin, and announce a host of new senior hires globally.
Founded in 2012 by Stephen Upstone (CEO) and Marco van der Bergh (CTO), the company has grown exponentially, with 70 staff, of which 30 are engineers, now located in the US, UK, China, Dubai and Ukraine, with offices in France and Germany launched this quarter.
The Series A funding, conducted in two rounds, the second of which has just been completed, totals $7 million with investment from Holzbrinck Ventures and Open Ocean Capital, as well as private Chinese investors. The funding announcement comes as LoopMe announces that it has once again hit profitability.
LoopMe specialises in all formats of mobile video advertising formats combined with Artificial Intelligence and data sourced through its proprietary Data Management Platform (DMP). Its clients include leading global brands like Apple, Adidas, Unilever, Coca Cola, Microsoft and Jaguar.
The biggest challenge video advertising faces is the massive migration to mobile and the ability to reach the right user, in the right place, at the right time, with the right ad. Existing video ads platforms are PC Desktop first and focused on pre roll or in stream video advertising. By contrast LoopMe works with all mobile video ads formats (including pre-roll, full screen and native video) and uses big data and artificial intelligence to increase the video competition rates for given audiences and engagement rates against specific advertiser goals. By employing the Artificial Intelligence Engine LoopMe can deliver 50% to 300% uplift in campaign performance.
CEO and Co-Founder Stephen Upstone added “we see this stage of LoopMe’s growth as the first step in a much longer journey. LoopMe has a global footprint through US, Europe and Asia and our unique use of big data and artificial intelligence will enable us to remain at the forefront of what is sure to be the era of data driven video advertising”.
“The scale of the opportunity is huge” comments Barbod Namini, principal at Holzbrinck Ventures. “The way people consume media is changing and the budgets brands push towards each medium will reflect this evolution. We expect to see significant chunks of the $200 billion TV and $150 billion digital ad spend being invested in mobile, with mobile video at the center of the whole digital advertising category”.
“Mobile video advertising has been proven to be 6.5x more effective than mobile display and 4x more effective when compared to TV, according to MMA’s SMoX cross marketing research conducted in the US and China, in partnership with leading brands like Coca-Cola and Walmart” says Greg Stuart, CEO Mobile Marketing Association. “And given Mobile Video CPM versus other media, mobile video is priced at least at 50% it´s real value, making it the deal of the decade for marketers.”
Tom Henriksson partner at Open Ocean Capital said “The next challenge for the mobile video market as a whole is optimization, targeting and effective use of big data. Through SaaS, Exchange and Managed Services LoopMe have positioned themselves perfectly to capitalize on this opportunity. LoopMe’s focus, artificial intelligence and data capabilities will prove a key differentiator for long term sustainable growth”.