Norwegian AI startup Metric raises €8 million Series A funding round led by Magnus Carlsen 

Metric, a Norwegian startup specializing in AI-driven marketing solutions, has raised €8 million in Series A funding to expand its global reach and advance its technology for e-commerce advertising.

The round was led by Magnus Carlsen, the world’s top chess player; Johan Brand, founder of Norwegian unicorn Kahoot; and TRY, Norway’s leading creative and performance marketing agency. The round also saw participation from MP Pensjon, a strategic Norwegian pension fund; Kvantia, a notable Norwegian family office; Altitude Capital, focused on scaling tech companies; and Marketer Group, a leader in real estate marketing automation.

Metric will use the funds to improve its AI for automating tasks, managing budgets, and optimizing performance. Part of the investment will also go towards upgrading its infrastructure to better support its expanding client base.. The investment will also help upgrade its infrastructure to support a growing client base and deliver smoother service.

Alongside the funding news, Metric also announced the launch of a fully automated marketing platform for Shopify businesses, offering one-click solutions to enhance campaign performance.

Johan Brand commented, “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.”

Marketer Group has also committed an additional €3 million in technology and resources, contributing valuable marketing automation IP developed over several years.

Metric’s platform simplifies digital advertising for Shopify merchants, automating campaign creation and optimization across Meta and Google. Leveraging machine learning it helps brands improve return on ad spend (ROAS) and scale more effectively. Metric is adding hundreds of new clients each month and is growing its presence in markets like the US, Norway, UK, and Australia. More e-commerce brands are adopting AI tools to stay competitive.. Demand is growing as e-commerce brands look for smarter, AI-powered marketing tools.

“Metric’s AI delivers measurable value, enabling merchants to optimize marketing with precision and efficiency,” said 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.”

A spokesperson from Altitude Capital added, “Metric’s exceptional growth and proven technology base position them as a leader in the AI marketing space. 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.”

Backed by key investors, Metric plans to focus on refining its technology and expanding its services to meet the evolving needs of e-commerce brands worldwide.