Influencer advertising and marketing platform CreatorIQ acquired influencer advertising and marketing analytics platform Tribe Dynamics in what was reported to be a deal in the neighborhood of $70 million.
WHO: Founded in 2012 by Conor Begley and Jon Namnath, Tribe Dynamics is a number one influencer advertising and marketing platform serving to manufacturers drive digital earned media. With crew members primarily based in San Francisco, New York, and London, Tribe Dynamics works with manufacturers throughout the Americas, EMEA, and APAC.
CreatorIQ”s software program unifies and powers superior influencer advertising and marketing for the world’s most progressive enterprises. Its Intelligence Cloud facilitates knowledge science-enabled creator discovery, streamlines workflow, ensures model security, and drives significant measurement driving actual enterprise outcomes throughout their influencer advertising and marketing ecosystems. Founded in 2014, CreatorIQ is headquartered in Los Angeles with places of work in San Francisco, Denver, Austin, Detroit, Chicago, Toronto, Miami, New York City, London, Auckland, and Kharkiv (UA).
WHY: The deal brings collectively Tribe Dynamics’ superior analytics and benchmarking options with the flexibility to make these insights actionable by way of CreatorIQ’s Creator Intelligence Cloud. The mixed firm will lengthen CreatorIQ’s management place as the biggest influencer advertising and marketing SaaS platform in phrases of income, progress, knowledge authority, and international growth with over 450 clients, 250 workers, and $90 million in funding.
IN THEIR OWN WORDS: “We are thrilled to be buying such a fast-growing, authoritative chief in Tribe Dynamics. With this union, CreatorIQ is accelerating our concentrate on superior knowledge science and analytics,” stated Igor Vaks, founder & CEO at CreatorIQ. “Applying Tribe Dynamics’ proprietary fashions, that are the usual in the sweetness & style industries, to extra verticals will enable us to supply analytics and measurement benchmarks for the complete business. This partnership raises the bar for what leaders ought to anticipate from an influencer advertising and marketing platform.”
“This is a giant deal. Tribe Dynamics coming along with CreatorIQ is extra than simply two influencer advertising and marketing leaders becoming a member of forces with complementary strengths. It’s a profound alternative to create requirements for the complete influencer advertising and marketing sector and represents a multi-billion greenback market alternative,” stated Conor Begley, President at Tribe Dynamics. “Together, we’ll characterize the unquestioned chief in the market and we’re dedicated to serving the wants of manufacturers throughout the globe as they make investments in influencer advertising and marketing.”
DETAILS:
CreatorIQ acquired Tribe Dynamics. The transaction was a mixture of money and inventory, with Variety reporting the deal was value round $70 million.
At the time of acquisition, Tribe Dynamics was in a interval of speedy progress, with new bookings rising over 100% YoY with a 110% internet retention fee in the primary half of 2021.
Tribe Dynamics will proceed to function as an unbiased entity for the foreseeable future with all workers remaining post-acquisition, together with co-founders Conor Begley and Jon Namnath.
Tribe Dynamics buyers included Switzerland’s Planven Entrepreneur Ventures, Lighter Capital, and You & Mr Jones Brandtech Ventures.
The deal comes on the heels of $40 million in new funding, bringing CreatorIQ’s complete capital raised thus far to over $80 million.
Cooley LLC represented CreatorIQ as authorized counsel in the transaction, whereas Perkins Coie LLC served as counsel for Tribe Dynamics. Truist Securities served because the funding financial institution for Tribe Dynamics in the deal.
https://beautymatter.com/articles/creatoriq-acquires-tribe-dynamics-in-70-million-deal
