OBT Live Secures £2.25 Million for Growth Expansion
In a bold move poised to redefine the landscape of customer engagement, Liverpool-based company OBT Live has successfully raised over £2.25 million in Series A funding. This significant investment, which values the company at more than £10 million, is set to propel OBT Live's innovative AI-driven services to new heights. As startup founders and investors, understanding how OBT Live leverages technology to drive sales and enhance brand loyalty is key to recognizing the future of digital transformation in various industries such as media, sports, retail, and leisure.
The Series A funding round, spearheaded by NPIF II – Praetura Equity Finance, represents a crucial step for OBT Live as it looks to expand its UK team, enhance product development, and accelerate market penetration in sectors ripe for digital innovation.
With an eye on global expansion, OBT Live recently established a regional hub in Dubai, marking a significant milestone in their international strategy. Co-founders Paul Shannon and Chris Hodgson have built a company that disrupts traditional marketing by offering hyper-personalized experiences that adapt in real-time to user behaviors, effectively turning static content into dynamic campaigns.
Utilizing their proprietary software, Engage AI, OBT Live blends principles from behavioral psychology, game design, and LiveOps technology to keep customers engaged. This innovative approach enables brands to create contextual experiences filled with challenges and rewards, aiming to transform browsers into buyers and maximize customer insights. As Paul Shannon puts it, “This investment validates our vision and equips us with the resources necessary to scale operations and enhance our offerings.” With the backing of investors like Praetura Ventures, OBT Live illustrates the transformative power of funding in enabling startups to harness innovation and drive growth, ultimately reshaping how brands connect with consumers across the globe.
Key Terms Explained
- Series A Funding
- This refers to a company's first significant round of venture capital financing. It is often used to further develop a product or market a product when a startup has already proven that it has potential customers or users.
- Market Penetration
- This refers to the strategy of selling more of your existing products or services to your existing customer base to increase your market share in the existing markets. This strategy is often used to generate increased sales revenue without venturing into new markets or developing new products.
- Proprietary Software
- This refers to computer software for which the software's publisher or another person retains intellectual property rights. This type of software can provide the company a competitive advantage in the industry.
Frequently Asked Questions
- How much funding did OBT Live raise in their Series A round?-OBT Live raised over £2.25 million in their Series A funding round.
- What is the aim of OBT Live's innovative AI-driven services?+
- What are the expansion plans for the funding received by OBT Live?+
- What is the international strategy of OBT Live?+
- How does OBT live plan to use its funding to benefit startups?+
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