iGlobe Partners-led $7 M raised by crowd influencer marketing platform Partipost
A round headed by iGlobe Partners secured $7 million for the Singapore-based crowd influencer marketing platform Partipost.
Along with Quest Ventures, Pavilion Capital, Taiwan Mobile, and Cathay Venture all contributed to the fundraising effort. After the transaction, IGlobe partner Joyce Ng will become a director on Partipost’s board.
Campaign managers may more easily collaborate with numerous influencers thanks to the startup’s platform, which links businesses to social media stars. It also aids influencers in generating revenue from branded content.
The additional funding will be used by Partipost to create a new line of products. Within the following 18 months, it also intends to extend its business into Hong Kong, Thailand, and Vietnam.
According to Ng of IGlobe, one sign that the creator economy will endure is the growing use of social media throughout Asia. She continued by saying that in order to get through the ensuing content clutter, firms need to investigate various marketing methods.
According to a marketing study commissioned by Partipost, brand marketers anticipate having instant and continuous access to the influencers they are collaborating with. Due to this, businesses now devote up to a third of their marketing budgets on influencer marketing.
With 87% of respondents spending at least two hours per day on social media and 46% spending more than five hours, consumers are also using it to study and find new items.
Partipost raised US $1.5 million in a series A round of investment in July 2021. Jeffrey Seah, a partner at Quest Ventures, joined the board of directors of Partipost after the financing. In a prior series A tranche in 2020, the business previously raised US $3.5 million.
