Launchmetrics is a marketing platform and data analytics solution for luxury, fashion, and cosmetics brands that has raised $50 million in venture capital funding. This round of funding was led by Bpifrance. Seventure, Cipio Partners, and Famillie C also participated in this round of funding.
With the funding, Launchmetrics plans to accelerate the international expansion of its data analytics service. Over the next couple of years, Launchmetrics is planning to hire 150 more people in marketing, sales, software development, data, product development, and innovation. Launchmetrics said that this funding will help the company’s project revenue to grow from $25 million to $100 million over the next four years.
“I am excited to share the news of our latest fundraising, it really highlights the contribution we have been able to bring to our customers and the industry to date,” said Launchmetrics’ CEO Michael Jais. “As the leading marketing platform and analytics solution for the Fashion, Luxury and Cosmetics industries, I am confident this additional capital will help us accelerate our business across Asia, the Middle East and Europe as well as further invest in the development of cutting-edge data technologies that will transform the way marketing works for these industries in the future.”
There are more than 1,000 brands and over 50,000 influencers in the fashion, luxury, and cosmetics space that utilize Launchmetrics every day to identify the most influential voices in the industry and measure the results of their marketing communication campaigns.
“Over the years we have helped build many successful companies and pride ourselves on our ability to identify those with a lot of potential. We have been very impressed with Launchmetrics’ innovative technology, category authority and growth dynamics,” said Bpifrance’s Deputy Managing Director of Large Venture Nicolas Herschtel. “They have a strong vision for the future of Fashion & Luxury Technology and we look forward to being part of their journey as they become the worldwide leader in marketing solutions.”
Launchmetrics was created out of a merger by Augure (Paris) and Fashion GPS (New York). Augure is an influencer marketing software company and Fashion GPS is a premier technology provider of the fashion industry.