SG influencer platform raises $7m in iGlobe Partners-led round

Singapore-based Partipost, a crowd influencer marketing platform, has raised US$7 million in a round led by iGlobe Partners.

Partipost’s founders / Photo credit: Partipost

The fundraise also saw participation from Pavilion Capital, Taiwan Mobile, Cathay Venture, and returning investor Quest Ventures. IGlobe partner Joyce Ng will join Partipost’s board as a director following the deal.

The startup’s platform connects companies to social media personalities, enabling campaign managers to more easily work with multiple influencers. It also helps influencers monetize branded content.

Partipost will use the fresh capital to develop its new product suite. It also plans to expand its operations into Thailand, Vietnam, and Hong Kong within the next 18 months.

IGlobe’s Ng said the increasing social media penetration rate in Asia is one indicator that the creator economy will be here to stay. She added that brands need to explore different marketing tools to break through the resulting content clutter.

A marketing report commissioned by Partipost found that brand marketers expect to have immediate and constant access to influencers they’re working with. This has prompted firms to invest up to a third of their marketing budget in influencers for their campaigns.

Consumers are also turning to social media to research and discover new products, with 87% of respondents spending at least two hours on social media daily and 46% spending more than five hours.

See also: Where will the new age of social media bring us?

In July 2021, Partipost secured US$1.5 million in funding in a series A round. Following the round, Quest Ventures partner Jeffrey Seah joined Partipost’s board of directors. The company also raised US$3.5 million in an earlier series A tranche in 2020.