Oslo-based AI company Metric has secured €8 million in a Series A funding round to further develop its automated marketing platform for Shopify merchants. Investors include Magnus Carlsen, Kahoot founder Johan Brand, TRY, MP Pensjon, Kvantia, Altitude Capital, and Marketer Group, which also contributed €3 million in technology resources. Metric’s platform uses machine learning to automate ad campaigns across Meta and Google, aiming to improve return on ad spend for online retailers. The funding will be allocated toward enhancing AI capabilities, expanding into new markets, and scaling operations as the company continues to grow its presence in the US, UK, Norway, and Australia.
Metric develops AI-driven tools for automating digital advertising. Its platform is designed to manage campaign creation, budget distribution, and performance optimization across Meta and Google, primarily serving e-commerce businesses using Shopify. The company operates in markets including the US, UK, Norway, and Australia, focusing on applying machine learning to digital marketing processes.
Johan Brand, founder of Kahoot and investor in Metric.tech, comments:
“I love backing bold teams that challenge the norm and build products that make a difference. Metric has a sharp vision for the future of AI-driven marketing, and they are executing with speed and precision. Their solution’s ability to turn complex data into real impact for e-commerce brands is exactly what the industry needs. I’m excited to be part of this journey and support them as they scale.”
In addition to its financial investment, Marketer Group has committed €3 million worth of technology and resources to Metric, contributing highly valuable marketing automation IP developed over many years.
Metric’s platform transforms digital advertising for Shopify merchants by automating campaign creation, management, and optimization across Meta and Google. Powered by advanced machine learning, it drives significant improvements in return on ad spend (ROAS), enabling brands to scale efficiently. Serving a quickly growing customer base, adding hundreds of new clients monthly, Metric has established a formidable presence in the US, Norway, UK, and Australia, with demand surging as e-commerce businesses increasingly adopt AI-driven tools to stay competitive.
“Metric’s AI delivers measurable value, enabling merchants to optimize marketing with precision and efficiency,” says Amir Folkestad Habhab, CEO of Metric. “The rapid adoption of our platform proves that e-commerce businesses need smarter, more automated marketing solutions to stay competitive. With this funding, we will continue pushing the boundaries of AI-driven advertising and further establishing Metric as the go-to solution for brands looking to increase sales and grow their businesses.”
The €8 million funding will be used to enhance Metric’s AI-driven automation, refining budget allocation and performance optimization for more efficient advertising. It will also support the company’s international expansion, targeting high-growth e-commerce markets to strengthen its global presence. Additionally, the investment will go toward scaling operations by upgrading infrastructure to accommodate a rapidly growing client base and ensure seamless service delivery.
“Metric’s exceptional growth and proven technology base position them as a leader in the AI marketing space,” says a spokesperson from Altitude Capital. “Their ability to drive superior returns for online shops while simplifying complex ad operations makes them an indispensable tool in modern e-commerce. We’re excited to support their continued expansion and technological advancements.”
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Read the orginal article: https://arcticstartup.com/metric-raises-e8m-series-a/
