Data Science Investment Counter —Funding raised by UK data science companies in 2017 as of today
£ 343.535 Million

London-based AI Company LoopMe secures £8M in Series A Round

LoopMe, a London-based digital advertising startup powered by Artificial Intelligence, has raised £8.1 million ($10 million) in a Series A Round led by Impulse VC and Harbert European Growth Capital. Other backers included Holzbrinck Ventures and Open Ocean Capital.

Founded in 2012 by Marco Van de Bergh and Stephen Upstone, the company uses AI algorithms to learn how people respond to advertisement on video platforms, and tweak them accordingly to optimise engagement.

LoopMe’s technology has been used by household names including Microsoft, Disney, Airbnb, and Honda.

In 2015, the company had previously raised a £5.7 million ($7 million) round led by Holtzbrinck Ventures, which had allowed it to expand its presence abroad with offices in LA, Bangalore, Johannesburg and Moscow.

The expansion is now bound to continue as a result of the new round: LoopMe has announced the fresh cash will be used to open offices in Amsterdam, Singapore and Chicago, besides being invested in AI technology development.

“AI-driven video ads are the future of brand marketing. LoopMe’s technology opens up a window into people’s thoughts and feelings, discovering what they like and dislike, which elements can trigger a reaction or a measurable, physical and emotional response,” LoopMe CEO and co-founder Stephen Upstone said in a statement.

“This makes brand advertising significantly more effective at driving brand KPIs, foot traffic and offline sales,” he added.

Image via bit.ly/2lAYfwX

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