London-based marketing technology platform Mention Me has raised $25m (£18m) in a Series B funding round. The investment was led by Octopus Ventures while previous backer Eight Roads Ventures also participated.
The scaleup is planning to use the latest funding to expand into the US market, invest in its partner network, which Includes Klaviyo, TrustPilot, Ometria and SAP, and develop its product offering.
Mention Me provides a “referral engineering service” to help companies acquire “high-quality” customers. Companies can acquire first-party data to refine their marketing activities. Mention Me uses AI and machine learning for data referral, which can be used by brands to identify potential customers.
“With third-party data disappearing, paid social delivering diminishing returns and consumers increasingly overwhelmed by endless brand advertising, our technology puts advocacy at the heart of marketing to reconnect marketers and consumers,” said Andy Cockburn, CEO and co-founder of Mention Me. “Our new funds will help us to transform the marketing landscape. We’ll be expanding our offering and presence to enable all businesses to harness the exponential power of their fans, inspiring every CEO and CMO to think advocacy-first.”
The fresh funds will also be used to further grow its team. This comes after Mention Me added Roy Robinson from Boxever as its CPO of lead product development. Ash Rama, previously at Trustpilot, was also added as VP People, and Rebecca Hooley joined as CFO after her previous stint at the private equity firm Livingbridge.
Founded in London back in 2013, Mention Me previously raised $7m in a Series A funding round back in 2018. The company claims to have delivered over 4.5 million referrals, which have helped 450 brands globally generate $1.5bn in revenue.