Full Venue raises €2M
The Portuguese startup Full Venue has raised €2 million to invest in its internationalisation strategy.
According to Link to Leaders, Full Venue uses AI for the sports and events industry and has already generated revenues of €5.7 million for its clients.
Full Venue is a platform that uses AI to predict potential customer purchase probability and works with several clients around the world in the sports, events and music industries.
Based on a proprietary AI Algorithm running on their partners’ first party data, Full Venue delivers high performing audiences for mail marketing and social media, which generates up to 50% higher open rate, 100% higher CTR, and up to 80% lower bounce rate according to the start-up’s website.
In other words it used AI to determine the exact likelihood of an organisation or company’s customers to make purchases through their digital platforms.
The seed investment round was led by GED Ventures and the capital raised will be applied in building up its team, in the development and implementation of new solutions and on its internationalisation strategy.
Primavera Sound, Blueticket, the Belgian Football Federation and Lightning Bolt are among Full Venue’s clients. The start-up, founded in 2020 by Tiago Costa Rocha, CEO (pictured), Marcos Castro, COO, and Miguel Ribeiro, Head of Data Science, is currently in seven markets: Portugal, Spain, UK, Finland, Belgium, Romania, and Chile.
Other investors in the seed round include business angels José Pinto and Pedro Aguiar, while its shareholders include the former Formula 1 racing driver Tiago Monteiro, among others.