Influencer marketing platform Partipost announced July 22 that it has raised USD 3.5 million in an SPH Ventures-led Series A, with participation from investors including Quest Ventures and others.
“Our latest fundraising round will enable Partipost to develop even better technology and collect more data to help us achieve our goals of helping brands connect to the right crowd of influencers as well as empowering these influencers with ability to be rewarded,” said the company’s founder and CEO Jonathan Eg in a statement.
The influencer marketing industry is set to grow to USD 9.7 billion in 2020 according to a report by Influencer Marketing Hub, a website dedicated to influencer marketing. Partipost also aims to accelerate business expansion into Vietnam, Philippines, and Malaysia while strengthening the current operation in Singapore, Indonesia, and Taiwan.
In addition to the funding, SPH Ventures CEO Chua Boon Ping will join as a director in Partipost’s board of directors. Quest Ventures’ partner Jeffrey Seah will also join as the company’s observer.
Founded in 2016, Partipost acts as a matchmaker for brands and influencers ranging from a few hundred to millions in follower size. Utilizing data insights collected through its in-app polls and user behaviour, the company helps find influencers with the highest brand affinity.
Since the launch of the Partipost mobile app in 2018, the startup has seen an average of double to triple-digit percentage month-on-month growth to more than 200,000 influencers, and has facilitated 2,500 influencer marketing campaigns for over 850 brands around the world in the past 12 months.