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LoopMe wins $17m of investor backing

LoopMe wins $17m backing from BGF

LoopMe has been handed $17m (£13.2m) by investment firm BGF to help it better utilise mobile data to drive foot traffic and sales.

The cash will power further global expansion of the ad tech platform, which uses artificial intelligence to improve campaign performance. There will be a particular focus on the US market as it seeks to bring its AI optimisation, attribution and analytics software to new customers.

Major brands to have used LoopMe technology include the likes of Ben & Jerry’s, Microsoft and Audi.

LoopMe chief executive Stephen Upstone said: “Brands need marketing solutions which deliver a business impact - sales, customers in stores and strong brand sentiment. 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.”

An aggressive expansion drive has already seen LoopMe target the Apac region for expansion with the opening of a Singapore office.

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