Influencer marketing platform ShopMy has successfully raised $77.5 million in its Series B funding round. This latest round, led by venture capital firms Bain Capital Ventures and Bessemer Venture Partners, marks a significant milestone in the company’s rapid growth.
The funds will allow ShopMy to scale its business and expand into new verticals, further solidifying its position in the influencer marketing ecosystem.
What is ShopMy?
ShopMy is an affiliate marketing platform that connects influencers with brands, allowing creators to earn commissions when their followers make purchases through their shared links.
Over the past year, the company has enhanced its platform by introducing new features like “Lookbooks” (focused on gifting) and “Opportunities” (for sponsored content). It is used by over 100,000 influencers and collaborates with major brands like Rhode, Lululemon, Chanel, Dolce Vita, and Hourglass. The platform aims to help influencers monetize their following while providing brands with access to a diverse and influential audience.
Founders’ Perspective
Tiffany Lopinsky, alongside fellow co-founders Harry Rein and Chris Tinsley, expressed excitement about the funding and the company’s future. “By combining the authenticity of creator content with the precision of performance marketing, we’re empowering brands to transform creator partnerships into a scalable performance
engine.” They further emphasized the importance of expanding the platform’s capabilities to meet the evolving needs of influencers and brands.
The involvement of high-profile investors, including Gap Inc. ‘s Eric Chan and influencers like Shea McGee and Camila Coehlo, signals that ShopMy is gaining traction in the influencer and brand communities. It also highlights the increasing demand for platforms that can facilitate the monetization of social media followings.
ShopMy Secures $77.5 Million Funding to Expand its Influencer Marketing Platform
A Major Milestone in Influencer Marketing
ShopMy, a leading influencer marketing startup, has raised $77.5 million in its latest funding round. This significant investment will help the company expand its platform and venture into new advertising categories, solidifying its position in the growing influencer marketing industry.
What Makes ShopMy Stand Out?
The platform allows influencers to create personalized online storefronts, enabling them to recommend products to their followers. This innovative model provides brands with a more authentic way to engage with audiences, resulting in higher sales and deeper connections.
Plans for Expansion and Innovation
With the fresh funding, ShopMy is set to enter new sectors and improve its offerings. Leveraging advanced analytics and AI, the company plans to provide more insights to brands and optimize influencer campaigns, creating a more efficient and impactful platform.
Empowering Influencers and Brands Alike
ShopMy has become a go-to platform, particularly for micro-influencers, by giving them the tools to monetize their content effectively. Brands, on the other hand, benefit from measurable campaign results and authentic audience engagement.
Looking Ahead – ShopMy’s Vision for the Future
ShopMy plans to roll out exciting new features, strengthen its team, and expand its presence in key markets. The $77.5 million funding not only boosts its growth but also reinforces its commitment to redefining influencer marketing.
As the digital marketing world evolves, ShopMy is poised to lead the way, offering innovative solutions that benefit influencers and brands alike.