mmi Analytics raises £4.5m for digital beauty insights push
mmi Analytics, a provider of beauty industry insights, has raised £4.5 million from angel investors.
The funding round was led by Nigel Wray, who previously invested in Domino’s Pizza, Nutmeg Saving and Investment, and Belluscura.
Lord Stanley Fink, former CEO of Man Group, made a follow on investment in the round.
Founded in 2005, London headquartered mmi monitors media, marketing and e-commerce data for clients including Coty, Huda Beauty, L’Oréal, Revlon, Groupe L’Occitane, Unilever and Shiseido.
It will use the investment to drive expansion into new territories and fund acquisitions that enhance its data capabilities.
The venture says the cash will also “support the development of new data insights to optimise clients' sales, partnership and brand building activities online”.
Christian Eckley, CEO at mmi Analytics, says: “With hundreds of billions of new beauty dollars up for grabs online over the next five years, brands are looking for a digital advantage. We provide that advantage and we are investing further to help our clients secure more attention and sales online.”
“The convergence of media and etail data will drive conversion for beauty online. Beauty is breaking the boundaries between PR, marketing and e-commerce to optimise for digital, and we are blending our data to help drive the best outcomes at every stage in the online shopper journey.”
Wray comments: “Beauty is global, growing and moving online fast, which is why we are delighted to become shareholders in mmi.”
“It has unique data, across media and all over the world, showing how shoppers experience beauty brands, and it works with many great global brands already.”
Lord Fink says: “Beauty companies need global, local and campaign level data to analyse performance and make the best brand, communications and e-commerce decisions.”
“mmi was built with the beauty industry for the beauty industry, and provides the insight firms require to gain an edge online.”
