Influence marketing The Shopmy platform raised $ 77.5 million during a series B financing cycle.
Shopmy connects creators with brands to facilitate affiliate marketing partnerships. The creators use Shopmy’s links to share products with their subscribers and win a commission when they buy via these links.
Its technology automates the process for sending free products to creators in exchange for content. Advertisers can also follow sales of creators’ campaigns via Shopmy, thus bringing key visibility to a channel where the measure remains a challenge.
“By combining the authenticity of creators’ content with the precision of performance marketing,
We give brands the means to transform partnerships with creators into an evolutionary performance
engine, ”said Harry Rein, co-founder and CEO of Shopmy, in a press release.
More than 100,000 creators earn commissionable income via the platform and find an average return on investment of 5x, according to Shopmy. The creators Arielle Charnas, Nam Vo and Justin Anderson are on the Shopmy platform.
Meanwhile, 550 brands, including Lululemon, Rhode and Nordstrom, use Shopmy technology. The platform said that since its launch in 2020, it has generated more than $ 352 million in total brand sales, making an average return on investment of 5x.
Shopmy also offers automation tools that make the marketing process for creators more transparent. Lookbooks is a functionality of automated gifts that reduces the time devoted to influencer gifts and minimizes waste of products, while a feature called opportunities automatizes content creation.
According to Shopmy, more than 190,000 gifts have been sent using looks since 2023, while over the past six months, brands have created 16,000 creators, generating 125 million views with opportunities.
Shopmy will use this investment to develop its team and develop in new vertical sectors such as health and well-being, hotel and family, while redoubled in the field of fashion and beauty.
The funding was led by Bessemer Venture Partners and Bain Capital Ventures. Menlo Ventures and previous investors Inspired Capital and AlleyCorp also participated in the cycle. Individual investors, including Eric Chan, commercial and strategic director at GAP; And the Campbell and Jett Puckett and Camila Coehlo creators also participated.
“By transforming reliable recommendations into measurable performance marketing,
[ShopMy is] Pioneer of a brand new approach to trade, “said Jeremy Levine, associated with Bessemer, in a press release.
