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AI advertising firm raises an additional $10m to set up more international outposts

Video marketing business LoopMe has announced it has raised a further $10m as it looks to open new offices in Amsterdam, Singapore and Chicago this year.

The business, which has its global headquarters in Farringdon, has received funding from Impulse VC and Harbert European Growth Capital, along with contribution from existing investors Holzbrinck Ventures and Open Ocean Capital, bringing total funding in the company to $17m.

Founded by mobile marketing experts Stephen Upstone and Marco van de Bergh, LoopMe claims to have the biggest video platform in the world, linking brands with programmatic ad exchanges and direct publishers.

It currently works with the likes of Microsoft, Airbnb and Heineken and has a growing network of international offices across the globe, including LA, Moscow and Bangalore.

The firm has also embarked on a big artificial intelligence (AI) push, with AI algorithms that it claims can optimise ad placements in real time, and said that today’s funding will help to unlock further investment in its AI technology.

Grigory Firsov co-founder, Impulse VC, commented: “LoopMe is using AI to improve the quality of brand advertising on mobile devices. Its data science team has worked with AI for over 15 years at the highest level and the results with large brand advertisers are very compelling.”

LoopMe has also announced that Rocket Fuel founder and AI investor, George John, will be joining the advertising company’s board as it looks to embark on further international growth this year.

Upstone said: “George John is a giant in the AI & advertising industry and we are delighted to welcome him to the board.

“His experience of growing advertising businesses and developing industry-leading technology is invaluable as LoopMe continues to pursue an ambitious growth strategy worldwide.”

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