In addition to acquiring Later, Mavrck also plans to use the funds to enhance platform capabilities. Here are the top-line bullets you need to know.
Mavrck, an influencer marketing platform for consumer brands, has raised an additional $135M in growth equity funding from Summit Partners. It has used some of the funds to purchase Later — a Linkin.bio maker.
HOW’S THE COMPANY PERFORMING?
- Massachusetts-based Mavrck helps brands and agencies find creators and influencers for their marketing campaigns.
- The platform helps 5K+ marketing professionals across 500+ consumer brands manage relationships with content creators. Some of its clients include P&G and Godiva.
- Average brand spend on Mavrck’s platform has increased by 114% since 2020.
- Mavrck has activated over 3M creators and paid out over $200M in incentives since 2014.
- The startup maintains offices in Boston and Denver.
WHY DOES THE MARKET MATTER?
- The global influencer marketing platform market is expected to reach a value of $24.1B by 2025, growing at a CAGR of 32%, according to Markets and Markets.
- Increased consumer demand for video-based content has contributed to the market’s growth.
- The rise of digital content consumption amid the pandemic has given this market a boost as well.
- About 1B individuals will identify as creators by 2030, up from 50M at present, according to Mavrck CEO Lyle Stevens. This will likely have a positive effect on this market.
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