ARMIS RAISES €1 million IN SEED FUNDING
FROM IRIS Capital and leaders from the internet, communication, and retail industry
This seed round aims at consolidating its ground-breaking Multi-Local Advertising technology and accelerate its commercial development.
Paris, January 17 2017 – Founded in 2016, ARMIS is born from the mix of expertise in adtech and retail from David Baranes, ex Vice-President Market Development at AppNexus, the world’s largest independent adtech company, and Dan Gomplewicz, ex Director of Strategy & Innovation at E.Leclerc, France’s largest retailer. The company aims at digitalizing local advertising for physical retailers via advertising technologies to grow in-store traffic. Only three months after its public launch, the start-up announced today that it has raised €1 million in seed funding.
This first financing round gathered Iris Capital, a leading European VC fund, and several business angels based in Paris, London and New York, including Brian O’Kelley (Cofounder & CEO AppNexus), Michael Rubenstein (President AppNexus), Philippe Finkelstein (Founder Cross Partners & ex-Cofounder Altavia), the Family Office Sonorfi, Tatiana Jama (Founder & CEO Selectionnist & ex-CEO LivingSocial France), Paul Taylor (ex-General Manager France & UK Catalina Marketing) and Philippe Ait-Yahia (Cofounder/CEO Synomia & ex-Cofounder/COO of telecom operator Omnicom). The diversity of profiles and backgrounds in its group of investors also highlights the international ambition of the company.
“We are proud to be surrounded by Iris Capital and such a team of world-class leaders and entrepreneurs, with a variety of backgrounds in technology, internet, retail and communication. Whether they come from the new generation of adtech or the old generation of paper mail, all were convinced about the value of our solution” said David Baranes, ARMIS Cofounder.
This fund raising will allow ARMIS to consolidate its ground-breaking Multi-Local Advertising (MLA) technology. By mixing geolocation, programmatic, big data & machine learning, MLA finally allows physical retailers to participate in the online dialogue via local-optimized digital advertising, and therefore get equipped with a web-to-store solution to retaliate to web’s giants. This funding will also allow the company to expand its relationships to food and non-food retailers.
”Physical retailers enjoy a privileged relationship with their local consumers. ARMIS allows them to capitalize on those relationships through digital media, which are critical today in the consumers purchase journey. The mix of skills gathered in this financing round is unprecedented, and will help us get a unique perspective to materialize this vision.” continued Dan Gomplewicz, ARMIS Cofounder.
”The retail market is engaging in deep transformational changes driven by digital technologies and therefore its main players need adapt and evolve rapidly with those structural changes. In that fast-paced context, the complementary expertise of Dan & David and their innovative offer made this investment appealing and convincing to Iris Capital.” commented Julien-David Nitlech, Partner at Iris Capital.
Based in Paris, ARMIS has 10 employees and is planning to double its headcount in 2017.
Founded in 2016, ARMIS digitalizes local advertising for physical retailers in order to grow in-store traffic. It aims at providing physical retailers with online advertising technologies to compete with the web’s giant and attract near-by consumers. To that end, ARMIS has developed Multi-Local Advertising (MLA) technologies based on geolocation, programmatic, big data & machine learning.
Based in Paris, ARMIS is born from the mix of expertise in adtech and retail from David Baranes, ex Vice-President Market Development at AppNexus, the world’s largest independent adtech company, and Dan Gomplewicz, ex Director of Strategy & Innovation at E.Leclerc, France’s largest retailer.