Partipost raises $4.81m funding led by SPH Ventures
This is said to help develop its tech platform and accelerate business expansion.
Crowd influencer marketing and commerce platform Partipost has secured an investment of $4.81m (US$3.5m) led by SPH Ventures, according to an announcement. Quest Ventures and other investors also participated in the funding.
Partipost’s founder and CEO, Jonathan Eg, has assembled an investor base with deep domain knowledge in content, artiste management, data and advertising, as well as extensive industry networks which are critical for market expansion plans. Partipost counts singer and celebrity Will Pan as one of its earliest investors.
In connection with this investment, Chua Boon Ping, CEO of SPH Ventures will join Partipost’s board of directors as a director and Jeffrey Seah of Quest Ventures will join as an observer.
The funds raised are said to further develop Partipost’s tech platform and accelerate business expansion into Vietnam, Philippines and Malaysia, as well as strengthen current operations in Singapore, Indonesia and Taiwan.
Jonathan Eg adds that this latest fundraising round will enable Partipost to develop even better technology and collect more data to help brands connect to the right crowd of influencers as well as empowering influencers with ability to be rewarded.
Since the launch of the Partipost mobile app in 2018, the startup has seen an average of double to triple digit percentage growth MoM to more than 200,000 influencers. With the rapid traction, Partipost has been able to see through 2,500 influencer marketing campaigns for over 850 brands across geographical markets in the past 12 months.
Critically, the mobile app is said to allow Partipost to activate thousands of influencers for a single campaign within 24 hours. Partipost is set to hit over 1,000,000 influencers within the next 18 months.