Influencer marketing platform Buzzoole has raised $8.9 million in a round of Series A funding.
The round was led by StarTIP (Tambri Investment Partners), known for investing in companies such as Ferrari, Hugo Boss and Moncler. Previous Buzzoole investors have also contributed to the round, including R301, Brahma AG, Impulse VC and Scaleit Ventures.
This new investment will help fuel the platform's research and development plans, as well as support its continued expansion across the globe. To date, Buzzoole has raised over $10 million.
“Influencer marketing is predicted to become a $10bn industry by 2020, likewise Buzzoole has moved beyond its successful start-up credentials and is on the cusp of a new and promising chapter," said co-founder and chief executive Fabrizio Perrone.
"Going forward, Buzzoole wants to continue in its commitment to developing technology that meets marketer demands and afford them a single technology platform capable of managing their influencer marketing from end-to-end.”
Creating a buzz
Buzzoole's presence has grown significantly in the past year. In June, the company partnered with data management resource Nielsen. This partnership saw the release of 'True Reach', a tool that'll help brands and agencies understand the actual reach of an influencer.
The company has also dramatically expanded its staff force in the last year. Since the turn of 2018, Buzzoole has brought on over 70 employees to operate in offices in London, Milan, Rome, Naples and New York.
The company also has a team of in-house creators that work directly with brands on creative marketing solutions. Buzzoole was also the only EU company to be named as a key brand in the Gartner 'influencer marketing solutions report 2018'.