Vertis, StarTIP lead €7.8m round for Buzzoole

Previous backers R301 Capital and Impulse VC, a venture platform controlled by Russian entrepreneur Roman Abramovich, also took part in the round, alongside new investors Brahma, Panda Partecipazioni and ScaleIT Ventures.

Vertis deployed capital from its Vertis Venture 2 Scaleup fund, which was launched in July 2017 with a €60m target. The vehicle held a first close on €30m in August 2017 and expects to hold a final close at the beginning of 2019.

Buzzoole intends to use the fresh capital to consolidate its market position in Italy, expand internationally (primarily in the UK and the US), and increase its investments in research and development.

Previous funding
Italian startup incubator 56Cube invested €180,000 in seed funding in Buzzoole in November 2013. Subsequently, the business raised a funding round from tech company Expert System in July 2015 and received an injection of $830,000 from R301 and Impulse VC in January 2017.

Company
Established in 2013 and headquartered in Naples, Buzzoole is an influencer marketing specialist that uses AI, data, audience analytics and natural language analysis to find the best social media influencers for a brand. The company employs 70 people, has offices in Naples, Rome, Milan, London and New York, and expects to generate revenues of around €8m in 2018, according to press reports.

People
Buzzoole – Fabrizio Perrone (co-founder, CEO).

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• Topics
• Expansion
• Southern Europe
• Media
• Technology
• Vertis
• Italy
• Venture