Founded in Stockholm in 2010, Loop54 started life as a search and recommendation related consultancy project for Voddler (the leading Swedish-based video-on-demand platform at the time). Loop54 morphed into a standalone product search engine in 2013, with the company growing and soon becoming cash-flow positive.
In 2015, Loop54 raised $580K in seed funding from Axel Johnson (one of Sweden’s leading business groups, employing 19,000 people, and whose investments engage with 1 million customers daily), RECAPEX (based in Stockholm, previous investments: virtual fitting solution for fashion e-tailers, Virtusize), together with Swedish government agency, ALMI Invest, and angel investor, Erik Byrenius.
Trusted by Swedish companies such as Coop, Teknikmagasinet and US-based Office Depot, Loop54 has already brought unparalleled success to its customers. Swedish office supplies company, Kontorsmagasinet, reported more than a 13% increase in online revenues, a 75% increase in average order value (AOV) and a 400% higher conversion rate on visits with search than without.