European influencer marketing platform Buzzoole has secured $8.9m in a Series A funding round, which it will use to expand its presence globally - specifically in the US and UK - and accelerate its R&D and platform development.
Buzzoole uses artificial intelligence and data to automate, manage and measure the influence of a creator's social media channels. The firm supports a network of more than 270,000 creators and its tools include GAIA (Growing Artificial Intelligence for Influencer Affinity), which helps find optimal matches between a brand and creator. Its True Reach metric is based on a proprietary algorithm designed by Nielsen to help brands and agencies understand how many users were actually reached during an influencer marketing campaign.
The new investment has been led by StarTIP (Tamburi Investment Partners - TIP) and Vertis Venture 2 Scaleup, with participation from existing investors R301, Brahma AG, Impulse VC and ScaleIT Ventures, bringing total funding to date to more than $10m. Fabrizio Perrone (pictured), co-founder and CEO of Buzzoole, comments: 'We want to continue our commitment to developing technology that affords marketers a single technology platform capable of managing their influencer marketing from end-to-end. We will also continue to answer to the industry's biggest challenges and drive it forward through impactful measurement solutions and enhanced transparency, while proving ourselves to be the strategic partner of choice for brands and creators globally'.
Web site: www.buzzoole.com .
All articles 2006-19 written and edited by Mel Crowther and/or Nick Thomas.