Naples, 29 October 2020 – Buzzoole, Italy's leading Influencer Marketing solution provider, which connects brands to content creators through Artificial Intelligence, announces the completion of a €5 million capital increase, underwritten by the Fondo Italia Venture II of CDP Venture Capital SGR, Vertis SGR and StarTIP (Tamburi Investment Partners group).
Founded in 2013 and owned by Digital Magics since its inception, Buzzoole offers companies solutions to manage, automate and measure Influencer Marketing campaigns through proprietary Artificial Intelligence platforms and algorithms. Buzzoole collaborates with over 850 customers in Europe and boasts one of the largest content creator marketplaces, consisting of around 2 million profiles.
Evolving communication, new features on social networks and changing market conditions constantly generate new ways for brands to use Influencer Marketing. Buzzoole has therefore structured a distinctive offer to cater to both those who need platforms to manage certain collaboration phases with Creators, and those who need guidance in designing and managing more complex campaigns.
The capital increase will help boost the development of a broad suite of SaaS solutions designed for the enterprise market and will integrate the Discovery tool, which lets companies independently discover and select content creators to involve in their campaigns, enhancing it with an extra add-on that makes it easier for brands to track their own campaigns and those of their competitors.
At the heart of it all, as always, is the continuous development of an innovative proprietary technology that uses deep learning algorithms, statistical models and social network analysis to dynamically categorise influencers and quantify their affinity with the client brand. As a complement to accurate profile and content analysis using Artificial Intelligence algorithms, there is a fraud detection system capable of identifying influencers who employ fraudulent practices. Finally, the platform offers useful benchmarks both when selecting content creators and to accurately evaluate campaign results.
Buzzoole's mission is to enhance the capabilities of brands and agencies seeking to make effective investments in Influencer Marketing, acting both as an adviser alongside companies that need a personalised service, and as a solution provider for organisations that have internalised Influencer Marketing processes and resources over the years.
“I am particularly proud of this new capital increase, which confirms investor confidence in a company that immediately looked at Influencer Marketing with a data & tech-driven approach. We are at a turning point in the market's evolution, thanks to the growing demand for technological solutions for in-house management of Influencer Marketing strategies and consulting models to meet design and creative needs, two approaches that perfectly reflect Buzzoole's broad value proposition,” says Gianluca Perrelli, CEO of Buzzoole.
“The operation will allow Buzzoole to accelerate the path taken downstream of the change in trajectory set by the new management team, which sees a focus on the Italian market and development of SaaS solutions that will help increase the model's scalability,” comments Francesca Ottier, Head of Fondo Italia Venture II at CDP Venture Capital SGR. “This is a decisive time for the future of communication and information, and Buzzoole's ability to rapidly seize the opportunities of the new dynamics, accelerating the implementation of increasingly sophisticated AI-based technologies, has enabled the company to establish itself as a technological partner of multiple organisations, thereby generating new business models. This is why we have chosen to contribute to its growth.”