Buzzoole, an influencer marketing platform in Europe which works with 850 international companies, has secured $8.9 million in Series A funding. The round was led by StarTIP and Vertis Venture 2 Scaleup, with participation from existing backers R301, Brahma AG, Impulse VC and ScaleIT Ventures.
The company was founded in 2013 and is currently active in 176 countries, serving in the region of 850 international brands and boasting a community of more than 270,000 creators. Buzzoole’s platform uses “cutting-edge” artificial intelligence technology to simplify every stage of the creator marketing process.
The London, Milan and New York-based business will use the new funding to accelerate its growth in key markets, specifically in the US and the UK. It also plans to invest in platform development and R&D activities.
Fabrizio Perrone, co-founder and CEO, said Buzzoole has moved beyond its successful start-up credentials and is on the cusp of “a new and promising chapter”.
“Going forward, Buzzoole wants to continue in its commitment to developing technology that meets marketer demands and affords them 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.”
Claudio Berretti, general manager at lead investor Tamburi Investment Partners, said:
“Influencer Marketing has evolved to a $1.6 billion industry on Instagram alone. By continuing to innovate and develop advanced tools to address the industry’s three prominent concerns – brand and creator matching, fraud and advanced metrics, we believe Buzzoole has a tremendous opportunity globally. We’re proud to continue supporting this innovative, smart and grounded company as it further establishes itself as the influencer marketing platform of choice.”
Buzzoole describes itself as the leading influencer marketing platform and service in Europe, having distinguished itself by developing advanced tools like GAIA and True Reach to address concerns including sourcing talent, fraud and transparent metrics.
The new funds will also support Buzzoole’s goal of growing its headcount by a third in the next year from its current workforce of nearly 70 employees