Lithuania: Affise, the global technology leader in partnerships management and automation, today announced a Series A funding round worth $8 million. This recent funding round, led by Leta Capital and TMT Investments, follows a period of impressive growth for the company. Founded in Vilnius, Lithuania in 2016, Affise has doubled its revenue every year and now employs over 120 professionals in six offices around the world.
“The funding round will help the team focus on geographic expansion in regions where advertising, affiliate marketing, and the economy as a whole are growing, namely the States and Asian countries. With such a great team and product, we believe in success,” – commented Artyom Inyutin, Co-founder & Head of Investments, TMT Investments.
As the partnership marketing industry continues an impressive growth of 10%, every year, its 2021 value is estimated to reach $1.2B. Affise endeavors to utilize the funding to expand its product suite, providing marketers with a single platform to automate and scale partnerships. Following tremendous success entering the Chinese market in 2019, Affise plans to increase its presence in North America, LatAm, and SEA, as well as cement its leadership in Europe, Israel, and India.
“Partnerships management is becoming the vital component of the marketing technology stack, and Affise has established itself as a leader in this fast-growing category,” said Stanislau Litvinau, CEO and Co-Founder, Affise. “Our commitment to representing the marketers’ interests has gained the trust of the leading agencies and networks, and we see significant potential to capture the additional opportunity in the market. One strategy we’re aiming to complete with this funding is entering the adjacent market of direct advertisers and brands, empowering them to grow their marketing channel with affiliate programs”.
“The market evolution from traditional affiliates to new performance channels (influencers, brand-to-brand and other), along with the skyrocketing growth in e-Commerce in 2020, will encourage more small and medium advertisers to launch their affiliate programs” – Dmitrii Zotov, CTO and Co-Founder, Affise. “This trend will generate demand for technological solutions to start and manage affiliate programs from scratch and achieve incremental growth. Thus, this funding round will enable us to follow Affise’s mission of empowering marketers with the tools needed to catapult their success and make accurate strategic decisions. This will drive innovations and transparency across the industry”.