Way back in 2013 LoopMe attempted to solve the problem of intrusive ads on a mobile screen by consolidating them into an “ad inbox” that the user would access through a small button. They raised a seed round to do it. Then in 2014 they raised a $3M round after dumping the ad-inbox model to become a mobile video ad business, that uses AI in automatic, real-time retargeting of ad campaigns. Basically, the AI replaces ad-operations teams who would only do campaign optimisation. Awww. Poor little ad executives.
Clearly investors agree with the direction, because LoopMe has now completed what is now being billed as their second round of their earlier Series A funding. The new round takes them to a $7 million with investment from Holzbrinck Ventures and Open Ocean Capital, as well as private Chinese investors.
The startup also claims to have hit profitability, enabling it to open 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 to sport 70 staff, of which 30 are engineers, spread across the US, UK, China, Dubai and Ukraine, with offices in France and Germany launched this quarter.
In its current guise LoopMe covers all formats of mobile video advertising formats. Clients include leading global brands like Apple, Adidas, Unilever, Coca Cola, Microsoft and Jaguar.
The startup says it an alternative to desktop PC focused companies like TubeMogul and Videology.
‘LoopMe’s vision is that data driven mobile video becomes the most important digital ad format with artificial intelligence driving smart decisions on $bns of spend annually,” according to Upstone.