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Amidst the familiar confines of Cable Factory, now a cherished home to the Arctic15 event, the top 15 startups in the traditional pitching competition took the stage to unveil their business models. As the day drew to a close, it was nooon that stood triumphant, having captivated the audience and clinched the victory at the Arctic15 Pitching Competition 2024. capturing the spotlight with its approach to influencer marketing among over 180 startups applied.
The victory at Arctic15 was not just a trophy but a gateway to substantial opportunities. After securing a €150K syndicate of Finnish Business Angels Network (FiBAN) angels and VCs at Arctic15 Pitching Competition, nooon closed their €400K angel round with the support of notable investors including Ivo Ronner, Peter Vesterbacka, Steve Havas, Tuomas Pahlman, Pascal Forster, Janne Majaniemi from Wolt among others. This influx of capital will fuel nooon’s expansion plans, focusing on team growth and product development.
“We were there together with some amazing startups that drive innovation and working on super hard to solve big problems. I’d probably try to play it cool but if you ask our team they would say that we were all super nervous and it was the greatest feeling to hear Steve announce our name as the winner,” states Nooah.
A breakfast with a view: the birth of nooon
nooon was born from an ordinary hotel breakfast that sparked an extraordinary vision. The story of nooon is a testament to how a simple observation can evolve into a groundbreaking solution in the world of influencer marketing.
It all began in the AX Hotel, where the founder of nooon were staying. Over breakfast with the hotel’s General Manager, a casual conversation about the challenges of working with influencers led to a profound realisation. The manager’s frustrations with existing platforms and processes highlighted a significant gap in the market. Fascinated by the challenge, the founders set out to delve deeper into the issue. Within the first 20 days of developing nooon, they interviewed over 15 hotels, gaining deep insights into the inefficiencies of influencer marketing within the hospitality industry.
This extensive research revealed that traditional influencer platforms were ill-suited for the unique needs of hotels. What began as an idea for an influencer marketplace quickly evolved into a vision for a specialised workflow tool. The goal was clear: to create a solution tailored to the hotel industry’s specific needs, enabling them to engage with influencers in a way that aligned with their schedules and priorities.
nooon is bridging the gap
As a Scandinavian startup founded by Nooah Riijärvi, nooon is driven by a mission to build the best workflow tool for hotels globally. The company aims to become the leading marketing solution for the hospitality sector, providing hotels with the tools they need to navigate the complexities of influencer marketing with ease. Yet, nooon is more than just a tool; it’s a revolution in how hotels manage influencer partnerships. The platform is designed to streamline the influencer booking process, reducing friction and enhancing efficiency. By addressing the unique challenges faced by hotels, nooon empowers them to generate more influencer-led sales and maximise their marketing efforts.
Influencer marketing has emerged as the Holy Grail for brands striving to win over hearts and minds, but for the hospitality industry, it’s both a golden opportunity and a formidable challenge. In a sector where ambiance and experience reign supreme, hotels must leverage influencers in ways that resonate with their unique offerings. This requires more than a blanket approach; it demands a bespoke strategy that integrates influencers into the hotel’s operational and guest experience framework. From aligning campaigns with peak booking times to crafting content that reflects the hotel’s distinctive character, the hospitality industry needs a tailored approach that generic influencer marketing tools often fail to provide.
The quest to find the perfect influencer is a high-stakes venture. It’s not merely about amassing followers; it’s about finding an influencer whose persona and content style align with the hotel’s brand ethos. This search involves sifting through countless profiles to find those with genuine engagement and shared values. Once the right match is made, hotels face the delicate task of balancing expectations with reality. Coordinating content creation and timing requires meticulous choreography, ensuring that influencers can deliver compelling content without disrupting the hotel’s operational flow. Evaluating the effectiveness of these campaigns goes beyond likes and shares, requiring a deep dive into metrics like engagement quality, referral traffic, and conversion rates to measure true return on investment.
In the high-stakes game of hotel influencer marketing, success hinges on a blend of strategic matchmaking, authentic storytelling, and meticulous execution. For hotels, the rewards can be substantial, turning social media buzz into real-world bookings and unforgettable guest experiences. As the industry continues to evolve, mastering these challenges will be key to turning influencer partnerships into a cornerstone of successful marketing strategies.
With its innovative approach and deep understanding of the industry, nooon is poised to set new standards in influencer marketing. By focusing on the unique needs of hotels and providing a tailored solution, nooon is improving marketing processes. The name “nooon” itself is a nod to the hospitality industry’s time-honoured tradition: check-out time at noon. This clever play on words symbolizes the company’s commitment to transforming the way hotels interact with influencers, making their marketing efforts as seamless and timely as possible.
Arctic15 Pitching Competition provides a great boost to force the pace
For 17 years, Arctic15 has been a cornerstone of the startup ecosystem, uniting influential players and fostering growth. The event’s name is derived from its flagship pitching competition, which identifies the top 15 startups from the Nordic and Baltic regions. This competition has been a central focus for ArcticStartup Events, who have continually refined and expanded it. The real reward, however, comes from witnessing the remarkable progress of entrepreneurs who have emerged from these events, driving forward the event’s mission with renewed energy and dedication.
Each year, as the competition gains momentum, FiBAN’s support becomes increasingly vital. Their involvement transforms these events into high-stakes platforms where emerging businesses can showcase their potential to a discerning audience of investors and industry leaders. By providing crucial funding and mentorship for competing startups, FiBAN (Finnish Business Angels Network) ensures that startups not only survive but thrive in a competitive market. With notable names like FiBAN’s angel investors Steve Havas, Pekka Samuelsson, Gabriela Arzola, Peter Vesterbacka, and Tuomas Pahlman the network breathes life into the startup world, transforming them into epic stages of innovation.
For nooon, it all began with a clear vision and a compelling pitch. The team, though visibly nervous, was confident in their mission, which is to transform how hotels engage with influencers. nooon’s application process was an exercise in refining their pitch and storytelling. They viewed Arctic15 as a chance to hone their pitching skills and compellingly present their vision. The process involved intensive preparation, including a deep dive session with their chairman, Colin, and finalising the deck just before the event. This meticulous approach paid off, highlighting the importance of preparation and narrative in pitching. Their pitch focused on storytelling rather than just showcasing their product, a strategy that resonated with the judges.
“We were among many impressive startups tackling significant challenges. Winning was exhilarating, but we were all incredibly nervous leading up to the announcement,” recalls Nooah. “The event was unforgettable, especially with our executive assistant’s first day coinciding with our win. Networking with investors and entrepreneurs, and ending the night with a BBQ on an island, was a fantastic way to celebrate.”
Photo by Valorama
”During the pitching competition, nooon impressed both the audience and judges with their deep knowledge of the hospitality industry and their engaging presentation of an innovative approach for boosting hotel sales through strategic influencer collaborations,” says Bikash Gurung, Event Director, ArcticStartup Events.
Arctic15 was more than just a competition for nooon; it was an opportunity to forge valuable connections and immerse in Finland’s entrepreneurial spirit. The connections made and lessons learned were invaluable, providing nooon with a robust network and insights that will guide their future endeavours. The win at Arctic15 has significantly boosted nooon’s visibility, with coverage in European startup media and strong engagement on social platforms.
“We’ve seen substantial growth in media coverage and social media views, which has been instrumental in building our brand,” the team notes.
Future plans and advice for aspiring entrepreneurs
Securing €150,000 from a syndicate of Finnish Business Angels Network (FiBAN) at the Arctic15 Pitching Competition has propelled nooon into a thrilling new chapter of its journey. With the investment, nooon has not only wrapped up its funding round with finesse but also set its sights on rapid expansion. The funds will enable them to grow their team by up to six key hires before hitting their €1 million annual recurring revenue (ARR) target. The imminent launch of nooon 1.0 on August 15th is set to spark a surge toward €50,000 in monthly recurring revenue (MRR) by year-end, with eyes firmly fixed on €100,000 in MRR within the first 600 days.
“We pretty much closed the entire round there on the spot, the other investors were already lined up and this was the perfect ending for the fundraise. We are using the money to expand the team but not more than 6 people before we hit 1 million in ARR. We focus on building an agile team that can build and work fast. We are launching nooon 1.0 on the 15th of August. With this we will run towards 50k MRR by the end of the year,” says Nooah.
Looking ahead, nooon is committed to focusing exclusively on the hotel sector, aiming to become the leading marketing tool for hotels globally. They envision their technology as a game-changer for the industry, providing a tailored workflow tool that addresses the unique needs of hotels. nooon aims to revolutionise influencer marketing for hoteliers, laying the groundwork for broader industry expansion as they scale toward €10-20 million in ARR.
Reflecting on their Arctic15 experience, nooon emphasizes the value of the event for networking and relationship-building.
“Arctic15 is a fantastic event to network and build strong relationships! I’d advise every single founder to apply, but make sure you have some key milestones to show if you really want to win.”
As nooon embarks on its next chapter, the journey from Arctic15 winner to industry leader is just beginning. With a clear vision and robust support, nooon is set to make a lasting impact on the influencer marketing landscape.
For more information on how nooon is changing the landscape of hotel marketing, visit their website: nooon.life.
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Read the orginal article: https://arcticstartup.com/nooon-raises-funding-at-arctic15-pitching-competition/
