Partipost raises Extended Series A of US$5 mil

  • Funding to improve tech, double down on existing markets & expansion
  • Investment reflects growth potential of influencer marketing industry

Partipost founders (L-R) Jonathan Eg, Benyamin Ramil and Tony Jen.

Partipost, as Asian crowd influencer marketing and commerce platform has received extended funding on their series A, with a total investment of US$5 million. The recent extended and oversubscribed round is led by Singapore-based Quest Ventures with participation by existing investor SPH Ventures, and new investors iGlobe Partners and XA Network.

The funds will be used to accelerate product and market expansions as the Covid business climate propels the growth of Partipost’s commercial clientele.

Jonathan Eg, founder and CEO of Partipost, said: “This extended fundraising round will enable Partipost to continue to improve our technology, execute our expansion plans, and double down on our existing markets.”

This investment with new and existing institutional and strategic investors reflects the increased mainstream market acceptance and outstanding growth potential of the influencer marketing industry, which according to a report by Influencer Marketing Hub is expected to be worth US$13.8 billion in 2021. The funds raised will further develop Partipost’s tech platform and accelerate business expansion into Vietnam, as well as strengthen current operations in Singapore, Indonesia, Taiwan, Malaysia, and the Philippines.

With the legal completion of this round, Jeffrey Seah, Partner, Quest Ventures, will join Partipost’s Board as Director. He was previously Board Observer from Quest Ventures’ earlier investment in Partipost.

“Since our initial investment, founders Jon, Ben and Tony have demonstrated their business acumen, balancing the need to recruit brand-safe nano influencers that resonate with commercial partners, and simultaneously pitch to and onboard business partners looking for authentic direct-to-customer relationships as social commerce notches increasing contribution to sales. We look forward to the leaders expanding their formula to new markets and filling up the management bench strength for further growth,” said Jeffrey.

Partipost claims to be Asia’s fastest-growing crowd influencer marketing and commerce platform with a threefold increase year-on-year in the total number of influencers during the pandemic and counts brands such as Pepsi, Dettol, The Body Shop, and brands under Unilever such as St. Ives and Simple Skincare as clients. It expanded to Malaysia and the Philippines earlier this year.

With data insights collected through its in-app polls and user behaviours, Partipost’s data-centric framework crowdsources influencers with follower sizes ranging from a few hundred to millions. Driven by consumers' growing need for trust in influencer marketing and commerce, Partipost rewards influencers for both their media reach and message impact in their curated social media content message, determined by their followers’ responses.

 
 
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