- Don-Alvin Adegeest |
Launchmetrics, a data analytics platform for the fashion and beauty industry, announced today it raised 50 million dollars in venture capital as the company prepares to accelerate the international expansion of its service for luxury brands.
According to Venture Beat, the latest round was led by Bpifrance, the French state bank, and also included money from Seventure, Cipio Partners and Famillie C (Clarins Family). Launchmetrics’ tools help companies in the fashion, luxury and cosmetic industries find influencers and recruit them for digital campaigns.
“It really highlights the contribution we have been able to bring to our customers and the industry to date,” said Michael Jais,CEO of Launchmetrics, in a statement.
50 million raised for fasihon and beauty data analytics platform
The company was founded in 2016 when two other startups merged: Augure of Paris, which had developed influencer marketing software and had raised $35 million in venture capital; and Fashion GPS of New York, which built technology for the fashion industry and had raised 4 million dollars.
According to Launchmetrics, more than 1,000 brands rely on its analytics data to help them identify the most influential voices in the industry through its various platforms, like influencer engagement, event, sample and image management as well as the tools to measure the ROI of their campaigns and projects.
Now officially based in New York, the company says it will use the money to expand in territories such as Asia, the Middle East and Europe.
Photo credit: Launchmetrics executive team, source Launchmetrics blog