Singapore influencer marketing platform raises additional $1.5m for series A round

Partipost, a Singapore-based crowd influencer marketing platform, announced it has secured an additional US$1.5 million in funding on its series A round. The extended funding round was led by Quest Ventures, with participation from SPH Ventures, iGlobe Partners, and XA Network.

Last year, the company raised US$3.5 million in its earlier series A tranche from Quest Ventures and SPH ventures.

(From left) Partipost founders Jonathan Eg, Benyamin Ramli, and Tony Jen / Photo credit: Partipost

Founded in 2016, Partipost is a platform that allows influencers to monetize branded content and sponsored posts on their personal accounts. The company said it equips its campaign managers with tools that can help them manage more influencers at a time, which is different from conventional agencies that mostly communicate with each influencer manually.

Partipost currently has over 600,000 influencers in its database, which is double the figure from the end of last year. According to its chief executive Jonathan Eg, the biggest challenge for the firm is to keep supplying campaigns to these influencers.

“That’s why we want to spend more money on the sales team with the extra funding. I hope to increase the number of campaigns to double or triple,” Eg told Tech in Asia.

According to the company, it processed around 3,500 campaigns since the inception to the end of last year. But in the first six months of this year, it is able to processed around 1,500 campaigns. It counts prominent brands such as Pepsi, Dettol, and The Body Shop, as its clients.

Partipost wants to use the fresh funds to develop its tech platform and accelerate business expansion to Vietnam. Earlier this year, it also expanded to Malaysia and the Philippines, on top of its existing operations in Singapore, Indonesia, and Taiwan.

Recently, the company rolled out two new initiatives: Nano Ambassador, which allows nano influencers (people with between 200 to 5,000 followers) to promote brands consistently for a year, and Mass Campaign, which helps brands get huge engagement in a short period of time.

With the funding, Quest Ventures’ partner Jeffrey Seah will join Partipost’s board of directors. Last year, after the completion of the funding round’s first close, SPH Ventures’ chief executive Chua Boon Ping also joined the company’s board.