Asia’s crowd influencer marketing and commerce platform Partipost has secured an investment of over US$7 million. About 20% to 30% of the fresh funds will be used for marketing. The remainder will be used to accelerate the development of Partipost’s new product suite to support the increased business needs of their multi-market commercial clientele as mask mandates retire across the Asian markets. Thailand, Vietnam and Hong Kong will join as Partipost’s sixth, seventh and eighth operational footprint in the next 18 months.
The oversubscribed round is led by global venture capital fund manager, iGlobe Partners, with participation from Temasek’s Pavilion Capital, Taiwan Mobile, Cathay Venture, and Quest Ventures. With this fundraising round completed, iGlobe Partners’ partner Joyce Ng will be joining Partipost’s board as a director.
Two years ago, Partipost secured an investment of US$3.5 million in a Series A round funding to expand its business into Malaysia, Vietnam, and Philippines, as well as to strengthen current operations in Singapore, Indonesia and Taiwan. The round was led by SPH Ventures with participation from Quest Ventures and other investors.
Meanwhile, Jeffrey Seah, partner at Quest Ventures Asia Fund, added that this is its third cheque in support of Partipost. In addition to garnering an increased share of the advertising and marketing budget pies, Partipost has increasingly been retained by marketing clients to develop product sampling and research campaigns in traditional trade distribution channels, he said.
“Alongside the shift in mindsets and habits of end customers, brand marketers are now looking for captive funnels to capture a covid generation of WFH consumers inundated with choice. Influencers and creators on Partipost’s platform, as a result, have seen their talent value validated commercially by the market. Tony, Ben and Jon are the genre of digital economy operators we will continue to support,” Seah explained.