LoopMe will benefit from an extra $500,000 of investment capital led by a consortium of Super Angels and VCs. The mobile ad inbox solution will use the cash to continue product innovation and build its international sales and business development.
Launched late last year, LoopMe addresses the problems some advertisers face with mobile ad formats. The servicesolves the problem with the creation of an ad inbox where users can click to open an extended panel of more apps and offers.
Funding has come from Russell Buckley who represents Ballpark Ventures. Buckley is best known for being the first employee and MD International of AdMob, which was sold to Google for $750m late in 2009.
Mobile ads a source of investment intrigue
Buckley seems to have latched onto the fact that mobile advertising could soon hit the big time. “Ballpark sees exponential growth ahead in mobile advertising and LoopMe has come up with something genuinely unique and valuable,” he revealed.
The £500,000 doesn’t just come from Buckley, though. He’s joined by Reuters Venture Capital’s John Tayson, Torben Maajaard from Ciklum and AdQuota and Peter Barry, who founded Vodafone Ventures in Silicon Valley.
Founder and CEO of LoopMe, Stephen Upstone, reasoned that the investors were selected because of their specific background. “We chose quality of industry experience at the highest level globally and we are thrilled to have secure such high quality investors with experience of building the world’s largest mobile and online ad businesses,” he said.