LoopMe, the US-based developer of a video advertising management platform, closed a $7m series A round yesterday featuring Holtzbrinck Ventures, the venture capital firm spun out of publisher Georg von Holtzbrinck.
The round, which LoopMe raised in two tranches, was also backed by VC firm Open Ocean Capital and undisclosed private Chinese investors.
LoopMe’s platform works with all mobile video ad formats, including pre-roll, full screen and native video, and uses artificial intelligence and big data to improve engagement rates. The company, which had recently opened offices in Berlin and Paris, said it has also reached profitability.
The funding follows $500,000 of seed capital raised from Ballpark Ventures and angel investors Russell Buckley, John Taysom, Torben Maajaard and Peter Barry in 2013.