PARIS — Launchmetrics, the Franco-American marketing and data analytics company, has raised $50 million in funding led by Bpifrance and followed by Seventure, Cipio Partners and the Courtin-Clarins family, the company said on Wednesday.
The firm expects to quadruple revenue over the next four years from $25 million to $100 million.
Created in 2015, Launchmetrics, which has a client base of 1,000 brands and 50,000 influencers across the fashion, luxury and cosmetics sectors, said it will use the capital injection to ramp up its global expansion. “I am confident this additional capital will help us accelerate our business across Asia, the Middle East and Europe,” said chief executive officer Michael Jais.
Further investment is also planned in product development and innovation. Launchmetrics’ Data Lab is developing visual recognition algorithms, which can be used to automatically tag brands, products and people from images shared by influencers. More than 150 new hires are also planned in the firm’s marketing, sales, software development and data departments.
Working with a team of more than 40 data scientists, analysts and technology specialists to develop proprietary algorithms that leverage AI technology and “machine learning,” Launchmetrics monitors more than 20,000 brands daily as well as 50,000 media outlets and 100,000 influencers.
“We have been very impressed with Launchmetrics’ innovative technology, category authority and growth dynamics,” said Nicolas Herschtel, deputy managing director of Bpifrance’s investment pole, Large Venture. “They have a strong vision for the future of fashion, luxury and technology and we look forward to being part of their journey as they become the worldwide leader in marketing solutions.”