LoopMe, a digital advertising firm that uses artificial intelligence (AI) to optimize mobile video advertising, has raised $10 million in a funding round led by Impulse VC and Harbert European Growth Capital. Holzbrinck Ventures and Open Ocean Capital laso participated in the round, reports VentureBeat.
Founded out of London in 2012, LoopMe unifies all the popular mobile video ad formats, covering pre-roll, HTML5, and the VAST ad-serving standard. The platform replaces humans with algorithms to determine the placement of ads in real time, based on metrics such as purchase intent or offline sales. The technology “learns” how viewers are reacting to the ads and changes them based on how a user is responding.
The company’s platform has been used by a host of well-known brands, including Microsoft, Disney, Airbnb, and Honda. It claims to be able to reach 1 billion consumers.
Backed by Russian billionaire Roman Abramovich, Impulse VC launched in October 2013 with the goal of investing in diversified Internet markets. The entity includes a venture fund and an incubator.
Last year the fund invested in another UK adtech startup, Locomizer, teaming up with Russian university fund Phystech Ventures..
Abramovich fund invests in UK video advertising startupRead More
