HV & Open Ocean Capital funds mobile and games pioneer.
Adverts on smartphones and Tablets ......LoopMe, a social mobile company have 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 and big data credentials.
With $3 million to spend get ready for household names to impose on you and your means of communication. The company claims to have already achieved strong revenue growth globally from mobile games advertisers and even reaching profitability. So LoopMe will use the new funds to continue its global expansion and further development of proprietary artificial intelligence and social discovery technology.
The funding will be used to support LoopMe’s vision of social advertising revolutionising mobile and games advertising. They will attempt to empower consumers to make advertising more effective by enabling sharing and adding social endorsement and feedback (“like”, “dislike”, 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.
The company 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.
Silly money
Kristian Segerstrale, has also made a personal investment in LoopMe . although it has not been discoled how much.Based on the West Coast, it is reported that he is becoming an advisor to the business helping LoopMe to continue to capitalise on opportunities in the US.
As an early investor in mobile games giant Supercell valued at over $3bn today, he has made some wise investments, previously as co-founder of mobile game pioneer Glu Mobile , formerly Macrospace) and Playfish, a 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.“
The system 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 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 massive global reach.
