Liverpool’s OBT Live has raised more than £2.25m of Series A funding, as part of a round that values the business over £10 million, to continue scaling its software-enabled services business. The company utilises AI and real-time insights to help brands in media, sport, retail and leisure drive sales and increase brand loyalty among consumers.
The Series A round was led by NPIF II – Praetura Equity Finance, which is managed by Praetura Ventures as part of the Northern Powerhouse Investment Fund II, and will be used to expand OBT Live’s UK team, invest in product development and accelerate market penetration across key industries, particularly those poised for digital transformation.
This raise follows a period of rapid growth for OBT Live, including the company’s recent international expansion into the Middle East with the opening of a regional hub in Dubai — a significant step in the company’s global strategy.
Founded by industry veterans Paul Shannon and Chris Hodgson, OBT Live was set up to help brands move beyond static content and one-size-fits-all campaigns by delivering hyper-personalised experiences that adapt to user behaviour in real time.
This is achieved by combining behavioural psychology, proven engagement techniques, game design principles and real-time technology to create digital experiences that feel relevant, rewarding and engaging.
OBT Live’s proprietary software, Engage AI, draws on learnings from the gaming industry and LiveOps, which is a practice of dynamically updating digital environments to keep users coming back. This allows brands to trigger contextual experiences like challenges, rewards and digital experiences that appeal to users.
Through Engage AI, LiveOps and a human-led service layer of engagement specialists, the company is able to use challenges, rewards, interactions and other features to keep users engaged and ensure online experiences drive maximum impact for OBT Live’s customers.
For example, a retail brand might look to offer a challenge or reward during peak shopping moments, turning browsers into buyers while collecting richer customer insight.
Paul Shannon and Chris Hodgson, Co-CEOs & Founders of OBT Live, said:”Securing this investment is a significant milestone for OBT Live. It not only validates our vision but also provides the resources to scale our operations and enhance our service offerings. We’re excited to partner with Praetura Ventures, whose commitment to supporting northern tech businesses aligns perfectly with our growth ambitions.”
Peter Carway, Investment Director at Praetura Ventures, said: “OBT Live’s innovative approach to LiveOps and customer engagement positions it at the forefront of digital transformation across multiple industries. It’s also an example of how Liverpool is advancing its cluster of innovation and harnessing a new generation of tech talent. We’re proud to be supporting OBT Live’s journey with more than money, and we look forward to contributing to its continued success.”
Sue Barnard, Senior Investment Manager at British Business Bank, added: “OBT Live represents the kind of forward-thinking, tech-driven business that NPIF II is here to support. With its innovative approach to customer engagement and real-time digital experiences, it is helping brands transform how they connect with consumers. This investment underlines our commitment to backing ambitious Northern companies driving growth, embracing digital transformation, and creating high-value jobs in the region.”
The £660m Northern Powerhouse Investment Fund II covers the entire North and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for Northern smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.