Partipost, a Singapore-based marketing startup that allows anyone with a social media profile to sign up for influencer campaigns, has raised $ 3.5 million in new funding. The tour was led by SPH Ventures, the investment arm of publisher Singapore Press Holdings, with participation from Quest Ventures and other investors.
The funding will be used to develop Partipost’s current activities in Singapore, Indonesia and Taiwan, and expand to Vietnam, the Philippines and Malaysia, other Southeast Asian markets with heavy media use. social. Since launching its mobile app in 2018, Partipost claims to have added around 200,000 influencers to its platform and that in the past 12 months it has helped run 2,500 social media marketing campaigns for over 850 brands. , including Adidas, Arnott’s, Red Bull. , Chope and Gojek.
According to a benchmark report released in March by the Influencer Marketing Hub, the influencer marketing industry is expected to be worth around $ 9.7 billion in 2020, with companies increasingly spending on social media campaigns and working with more. of “micro-influencers”. To serve them, the report says more than 380 new influencer marketing agencies and platforms were launched last year, joining a list of companies that already include AspireIQ, Upfluence, BuzzSumo, SparkToro, and Inzpsire.me. , to name just a few examples.
While most of these companies strive to help brands identify influencers with the most reach on social media, Partipost allows anyone to register to participate in a campaign.
“The main difference with Partipost is that we believe that anyone can be an influencer,” Founder and CEO Jonathan Eg told TipsClear. “Even if you have 200 subscribers, you can be one. We want to create a new market that we believe is the future. Anyone can post on social media, write a review or give comments and get paid for it. “
“We want to empower everyone to monetize their own data and influence and not just allow big tech companies to do it,” he added.
Aspiring influencers browse brand campaigns on the Partipost app and apply to participate by submitting a post-draft. If the brand approves it, then the user can go ahead and post it on their social media profiles.
The amount of money they earn depends on the amount of commitment received by each post. According to the company’s website, most campaigns require a minimum of 200 or more followers, and successful users can earn an average of $ 5 to $ 150 per campaign, depending on the brand’s payment structure.
One of Partipost’s selling points for brands is that it allows them to sign up thousands of influencers to a campaign in a single day, helping them react quickly to online trends. Part of the funding will also be used to create data tools to help brands match campaigns more effectively with Partipost users. The company says it plans to increase its budding influencer base to one million in the next 18 months.
As part of this funding, SPH Ventures CEO Chua Boon Ping will join Partipost’s board of directors, while Quest Ventures partner Jeffrey Seah will become an observer.
In a media statement, Chua said, “Social influencer marketing is one of the fastest growing segments of digital marketing. Therefore, we are very happy to lead the Partipost A series to further accelerate its growth. We are impressed with Partipost’s strong traction in Singapore, Indonesia and Taiwan as a young startup and look forward to partnering with new markets. “