Mobile and Online ad tech entrepreneurs and VCs back LoopMe
LONDON – 17th January 2013
Ballpark Ventures has led a consortium of Super Angels and VCs investing $500,000 in UK mobile ad pioneer LoopMe.
The money raised will fund LoopMe’s international sales and business development and continue product innovation for its mobile ad inbox solution.
The LoopMe concept was launched earlier this year to address familiar problems for app developers, who need to raise revenue from advertising but find that most ad formats are intrusive, not optimised for phones or tablets, or take users away from their apps.
The LoopMe button solves all these problems. Users can click on the icon to open up an ‘inbox’ comprising a range of apps and offers that have been socially rated and endorsed by the wider community. They can interact with several advertisers in one session, but are not migrated away from the app itself.
In fact, they can hit ‘back’ to return to the game at any time.
This new funding illustrates investor confidence in the idea. Ballpark Ventures was represented in the deal by Russell Buckley, best known as the first employee and MD International of AdMob – which was sold to Google for $750m.
Russell is joined by John Taysom (founder of Reuters Venture Capital which had 16 IPO exits including Yahoo and many successful trade exits), Torben Maajaard (founder of Ciklum and AdQuota) and Peter Barry (founder of Vodafone Ventures in Silicon Valley, investor in mobile ad company Amobee, sold to SingTel for $321m).
LoopMe was founded by mobile ad industry veterans Stephen Upstone (CEO) and Marco Van De Bergh (CTO), who worked together at Ad Infuse and Velti (NASDAQ IPO 2012).
LoopMe was founded in London a growing global hub for technology disruption. The UK has the highest mobile ad spend per consumer according to the eMarketer (7th January 2013). LoopMe is now growing internationally and has customers in Europe, US and Asia. Global mobile advertising will grow from $9.8bn in 2012 to $24bn in 2016 according to Gartner VP Mike McGuire (29th November 2012).
Upstone said: “Investors immediately saw the value of LoopMe, and we had a number of different partners interested. We chose quality of industry experience at the highest level globally and we are thrilled to have secure such high quality investors with experience of building the world’s largest mobile and online ad businesses.”
Russell Buckley added: “Ballpark sees exponential growth ahead in mobile advertising and LoopMe has come up with something genuinely unique and valuable.
“Its LoopMe concept gives publishers great results without changing existing relationships while advertisers get better engagement and results.”
LoopMe is global leader in mobile advertising inbox technology and uses social preference targeting to improve customer experience and results for advertisers and publishers. LoopMe’s mobile ad inbox SDK is integrated into apps in smartphones and tablets globally. Publishers and app developers use LoopMe to grow revenue and improve app loyalty and customer experience for users. Adding LoopMe to apps is very simple and brings additional revenue without changing any existing mobile ad suppliers. Advertisers can use existing mobile ad units and formats to promote offers, branded experiences and apps to consumers that are actively engaged and confident to interact and purchase.
LoopMe was founded by mobile advertising veterans 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’ greater choice and confidence to browse, interact and purchase on their mobile device. The Founders are joined by Board Advisors Russell Buckley who was first employee & MD EMEA AdMob then Global VP Google Mobile Advertising and Kate Burns who was first employee & MD Google Europe then MD Bebo Europe and CEO AOL Europe.
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