Luscid, a software platform that helps brands deploy sponsorship and marketing budgets through data-driven insights, has secured around £900,000 in seed funding.
The round was led by prominent angel investors including key figures from the sports, entertainment and technology world, such as Craig Pollard, who has spent over a decade driving the success of Apple’s products and partnerships in the UK.
Already working with key brands like Accor, Santander and Binance, the funding will be used to further develop Luscid’s technology and support market expansion.
The $100 billion sport and entertainment sponsorship industry has historically relied on personal relations and gut instinct when deploying sponsorship budgets. Luscid is aiming to address this by empowering brands to make data-driven decisions.
The platform eliminates the guesswork, allowing brands to identify the most effective partnerships and find measurable outcomes from their investments.
Luscid claims to be the largest global dataset for the sponsorship industry and utilises 500,000 historic and live partnerships from the last 15 years, analysed across 80 countries. It covers 88 sponsorship genres across football, rugby, cycling, cricket and eSports. This includes partnerships with federations, teams, leagues, events, and talent across sports and broader entertainment.
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“If you understand the interests of your customers and the best methods to communicate with them through those interests, combined with a pinpoint understanding of exactly which partnerships your marketing budget will allow you to create and which of those opportunities mirror the beliefs that you as a business want to project to the world, then you have the foundations of successful sponsorship,” said Harry Coe, CEO and co-founder.
“Luscid does all these things more accurately and efficiently than any other software on the planet.
“The support of the investor group for this round of fundraising is incredibly important, as the expertise each and every one provides measures far beyond their financial support. This investment will allow us to continue to grow apace, further developing our platform and expanding our global reach.”
Stuart Wareman, global SVP experiences, events & sponsorships at Accor, said: “Using data to make more informed decisions about our long-term approach to sponsorship is important.
“Having an aggregated view of all data into a single source that is tailored to a specific audience, market or segment is incredibly valuable.”
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