Raises $2M to Boost Adoption of Influencer Marketing

Investors: Prime Venture Partners, Decacorn Capital, SGInnovate
BENGALURU, India and SINGAPORE, May 18, 2021 /PRNewswire/ — Singapore-based Martech startup, has raised USD Two Million from Prime Venture Partners, Decacorn Capital & SGInnovate. Affable’s AI-driven, Self-service SaaS platform helps manufacturers and businesses run high-impact influencer advertising and marketing campaigns. Affable brings transparency and analytics to influencer advertising and marketing and is being utilized by over 45 prime manufacturers and businesses together with Huawei, Wipro, Pomelo, Fresh, Omnicom, Dentsu, and We Communications. The firm tracks greater than Three Million Influencers throughout Instagram, Facebook, YouTube, and TikTok. With the recent funding, Affable plans to develop into worldwide markets such because the U.S.

Affable was based by Nisarg Shah and Swayam Narain in 2017 as half of the Entrepreneur First cohort. The end-to-end Influencer Marketing Platform permits manufacturers and businesses to streamline their influencer methods all through the planning, discovery, activation, and reporting phases. Affable makes use of superior machine studying and massive information analytics to assist manufacturers discover influencers, handle and measure marketing campaign efficiency. With the influencer advertising and marketing course of being extraordinarily guide, time-consuming and fully based mostly on guesswork, Affable offers manufacturers with data-driven insights and analytics to assist streamline their micro-influencer advertising and marketing course of.

A world rise in digital consumption continues to propel influencer advertising and marketing campaigns amongst manufacturers throughout all sectors. Being a mobile-first area together with its youthful demography and rising reputation of social platforms, Southeast Asia has grow to be an excellent floor for influencer advertising and marketing to flourish and the market is estimated to attain $2.59 billion by 2024. Globally, the {industry} could be very bullish and is pegged to attain $15 billion by subsequent 12 months. A major purpose for this development is basically attributed to the massive numbers of web customers and majority of them utilizing smartphones. Furthermore, the COVID-19 pandemic has sped up the influencer advertising and marketing wave internationally. Cooped up at dwelling, customers are spending extra time on social networking, gaming, and watching OTT content material. The enormous quantities of time spent on-line has prompted manufacturers to work extra with social media influencers on platforms resembling YouTube, Facebook, and Instagram to join with their customers. Subsequently, Micro-influencers/ Micro-celebrities can drive a a lot larger attain at a a lot decrease price.
However, with up to 6X ROI on micro-influencer advertising and marketing budgets, manufacturers are nonetheless struggling to discover related influencers and measure their effectiveness. Traditionally, the influencer advertising and marketing course of entails discovering influencers, vetting viewers high quality, monitoring & measuring outcomes manually. Affable has not solely made this course of automated but additionally clever by constructing proprietary algorithms round its information infrastructure the place it makes use of superior ML and picture processing fashions for an correct influencer-brand mapping and measuring marketing campaign ROIs. The platform detects pretend followers, discovers follower pursuits and classifies social media customers based mostly on manufacturers, fan pages and so on. Affable indexes all of the social media customers and identifies potential influencers {that a} model may work with. Using Affable, entrepreneurs can discover influencers, handle them campaign-wise, and measure post-campaign analytics resembling engagement from in-target viewers, influencer success(as a bunch and individually), measure the general effectiveness of the marketing campaign, in addition to measure clicks and gross sales.
Including the present funding spherical, Affable has raised USD 2.8M from Prime Venture Partners, Decacorn Capital, SGInnovate, Entrepreneur First and strategic angel traders. Headquartered in Singapore, the startup has 20 staff working remotely throughout totally different geographies.
Supporting Quotes
Nisarg Shah, CEO and Co-founder,
“We see an enormous alternative in working with manufacturers to allow the a lot wanted, data-driven influencer advertising and marketing campaigns. The industry-leading manufacturers and businesses we work with reinforce our perception within the want for analytics to streamline the micro-influencer advertising and marketing course of. Prime brings a depth of expertise in scaling world SaaS corporations, operational experience, in addition to a robust community that we will leverage throughout our development part and we’re very excited to accomplice with them. At the identical time, participation from our present traders is a good endorsement for us.”
Shripati Acharya, Managing Partner, Prime Venture Partners
“Data-driven analytics is the necessity of the hour within the influencer advertising and marketing ecosystem which is a brand new and upcoming advertising and marketing channel and has picked up steam within the final 3-5 years. We imagine that Influencer advertising and marketing will grow to be a mainstream advertising and marketing channel for manufacturers with a major finances allocation. Affable’s tech differentiation will remodel the best way manufacturers and businesses work together with micro-influencers and celebrities, making certain they get most RoI from their advertising and marketing campaigns. We are excited by the demand and the potential for this service and are delighted to again founders who’re extraordinarily passionate and have deep experience on this discipline.”
Debneel Mukherjee, Managing Partner, Decacorn Capital
“As the lead investor in Affable’s seed spherical, Decacorn believes that ‘prime-time’ has arrived within the AI pushed influencer advertising and marketing house to successfully monetize the hyper social behavioral adjustments within the publish millennials. We are glad to have labored intently with the Affable crew over these previous two years in scaling their enterprise from a product-market match stage to a quickly rising 6-digit MRR as on date. In order to assist Affable scale past Asia into the holy grail of the USA we now have ponied up in Affable to the fullest extent.“
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