Liverpool-based OBT Live has raised more than £2.25m of Series A funding to continue scaling its software-enabled services business.
The company looks to utilise AI and real-time insights to help brands in media, sport, retail and leisure drive sales and increase brand loyalty among consumers.
This latest funding now values the business at more than £10m and was led by NPIF II – Praetura Equity Finance, which is managed by Praetura Ventures as part of the Northern Powerhouse Investment Fund II.
The investment will be used to expand OBT Live’s UK team, invest in product development and accelerate market penetration across key industries.
It follows the company’s recent growth, which has seen it expand into the Middle East with the opening of a regional hub in Dubai.
The firm’s proprietary software, Engage AI, aims to draw on learnings from the gaming industry and LiveOps, which is a practice of dynamically updating digital environments to keep users coming back.
This allows brands to trigger contextual experiences like challenges, rewards and digital experiences that appeal to users.
Through Engage AI, LiveOps and a human-led service layer of engagement specialists, the company is able to use challenges, rewards, interactions and other features to keep users engaged and ensure online experiences drive maximum impact for its customers.
“Securing this investment is a significant milestone for OBT Live,” said Paul Shannon and Chris Hodgson, co-CEOs & founders of OBT Live.
“It not only validates our vision but also provides the resources to scale our operations and enhance our service offerings.
“We’re excited to partner with Praetura Ventures, whose commitment to supporting northern tech businesses aligns perfectly with our growth ambitions.”
Peter Carway, investment director at Praetura Ventures, added: “OBT Live’s innovative approach to LiveOps and customer engagement positions it at the forefront of digital transformation across multiple industries.
“It’s also an example of how Liverpool is advancing its cluster of innovation and harnessing a new generation of tech talent.
“We’re proud to be supporting OBT Live’s journey with more than money, and we look forward to contributing to its continued success.”