Influencer marketing platform Buzzoole has just raised $830,000 through convertible note funding. The round was led by Impulse VC and joined by the Swiss VC firm R301 Capital. According to the Italian startup, the investment has potential to double within 18 months (up to $1.6 million) and draw further investors.
Buzzoole’s proprietary, big data-based algorithm works to connect brands to the right influencers. It has almost 200,000 influencers on its platform, defined by criteria beyond follower count. The platform’s international influencer base provides brands with a powerful way to start conversations, reach new audiences and boost their promotional campaigns.
Founded in 2013 in Naples, the Italian startup has already worked with a range of leading international brands, from Unilever to Mastercard to Toyota, among many others. After opening offices in Rome, Naples and Milan, Buzzoole set up shop in London earlier this year.
Buzzoole’s new funding will be put toward further overseas expansion primarily in Russia, France, Spain and India. It intends to refine its product and form new partnerships by integrating with trading desks as well as retargeting and programmatic activities.
Perrone added: “Moving forward, Buzzoole will continue adding new features to its platform and implementing its proprietary algorithm. With its awarded data-driven technology and automated platform based on semantic algorithm, images recognition and Open Graph, Buzzoole is the first end-to-end influencer marketing platform with a media-oriented business model.”