Pandemic winner Partipost, Asia-based crowd influencer marketing and commerce platform, announced today it has secured extended funding of US$5 million in their Series A round led by Quest Ventures.
Other participants in this round are existing investor SPH Ventures, and new investors iGlobe Partners and XA Network.
Partipost raised US$3.5 million last year in a round led by SPH Ventures and Quest Ventures and other investors.
The extended fundraising round this year of US$3.5 million will enable Partipost to continue to improve its technology, execute market expansion into Vietnam, and double down on its current operations in existing markets, including Singapore, Indonesia, Taiwan, Malaysia, and the Philippines.
When the legal procedure completes, Jeffrey Seah, Partner at Quest Ventures will be the Director of Partipost’s Board, following his current position as Board Observer since the previous funding.
“Since our initial investment, Jon, Ben and Tony [Partipost’s founders] have demonstrated their business acumen and operating verve across the three markets they originally operate in,” said Seah.
Founded in 2016, the Singaporean startup automates the process of influencer sourcing and campaign management for brands, helping them drive authentic word-of-mouth marketing.
As the COVID-19 pandemic urges businesses to realise the potential of influencer marketing –-an industry that is expected to be worth US$13.8 billion in 2021, according to a report by Influencer Marketing Hub– Partipost said it has received significant growth in its commercial clientele and a threefold increase year-on-year in the total number of influencers during the pandemic.
Through the two new initiatives – the Nano Ambassador and Mass Campaign Programs, Partipost expects to execute over 10,000 campaigns with over three million influencers within the next 18-24 months.
The platform is currently serving clients including Pepsi, Dettol, The Body Shop, and brands under Unilever such as St. Ives and Simple Skincare.
“They have balanced the need to recruit brand-safe nano influencers that resonate with commercial partners,“ added Seah.
With data insights collected through its in-app polls and user behaviours, Partipost crowdsources influencers with follower sizes ranging from a few hundred to millions of followers.
The platform then rewards them for both their media reach and message impact in their curated social media content message, determined by their followers’ responses.
Image credit: Partipost
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