Vertis et al. in €2m round for marketing platform Buzzoole

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 2020.

In addition, the VC house is also managing Vertis Venture 3 Technology Transfer, a €40m vehicle that invests in Italian university spinouts and companies originating from a startup incubator; it provides growth capital through their entire development process.

The company intends to use the fresh capital to launch and further develop its new tool, Discovery, a platform dedicated to helping companies manage in-house successful media campaigns.

Previous funding
Italian startup incubator 56Cube invested €180,000 in Buzzoole in November 2013. Subsequently, the business raised a funding round from tech company Expert System and R301 Capital in July 2015, and in January 2017 received an injection of $830,000 from R301 and Impulse VC (a venture platform controlled by Russian entrepreneur Roman Abramovich).

Vertis, via its Vertis Venture 2 Scaleup fund, and StarTIP led a €7.8m funding round for Buzzoole in December 2018. Previous backers R301 and Impulse VC also took part in the round, alongside new investors Brahma, Panda Partecipazioni and ScaleIT Ventures.

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 most suitable 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 2019.

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

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