Advertising technology start-up LoopMe has bagged $17 million (£13m) investment from BGF to boost its efforts in the US.
The company uses artificial intelligence to help brands tailor mobile ads to target individual viewers and boasts the likes of Audi and Ben & Jerry’s as clients.
Led by growth investor BGF, the $17 million funding round also saw HV Holtzbrinck Ventures, Open Ocean and Impulse VC invest, taking the company’s total funding to $32 million to date.
LoopMe plans to use the funds to expand its efforts in the US market, targeting cities including New York, San Francisco and Boston and tapping into North America’s $232.5 billion ad market.
“Brands need marketing solutions which deliver a business impact – sales, customers in stores and strong brand sentiment,” said CEO Stephen Upstone.
“This additional funding will allow us to bring our award-winning technology, which is proven to move the needle on these KPIs, to brands and agencies worldwide”.
The company raised a $10m continuation of its Seed funding round in March last year.
As part of the investment BGF investor Sarah Ledwidge will join LoopMe’s board.