Likely has banked a seven-figure investment round, with contributions coming from New World Private Equity and Charlotte Street Capital.
The one year-old business operates a system which allows customers to ‘better understand’ how people interact with topics they are interested in.
To date Likely has secured Coca-Cola and the British Government as customers to help develop presences on Facebook.
The new £1 million growth capital injection will now allow Likely to expand its sales and marketing efforts overseas as well as build its product development team in the UK.
As part of the deal, New World Private Equity’s Stephen Altman and Bo Pedersen from Charlotte Street Capital are set to join the board of Likely.
Likely’s CEO Daniel Shore says that brands are getting social completely wrong, with content being all about ‘me, me, me’ and little addressing what audiences want to hear.
He adds, ‘We are turning this model on its head by understanding what an audience already gets excited about and aligning the brand acquisition strategy and messaging with those topics.’
Shore established the business back in 2011 with fellow founder Henry Garner.
Equity backer New World Private Equity is a London-based firm which targets management buy-out, buy-in and growth capital investments of between £500,000 and £5 million.
Charlotte Street Capital operates in the software and internet-based technology markets and typically co-invests with angel investors as well as institutional backers.
Pedersen, co-founder and partner at Charlotte Street Capital, comments, ‘Likely is an example of what the best early stage entrepreneurs with great ideas and talent are building in the UK today.
‘The Likely founding team combines hard core technology skills with deep domain understanding and an innovative and ambitious vision for how advertisers and brands can identify and connect with audiences through social media.’
