BusinessWorld
Partipost, a nano-influencer marketing and commerce platform, received extended funding on their series A round, with investments totaling $5 million. The funds will be used to accelerate product and market expansion in Southeast Asia, including the Philippines, where its app launched this month.
The Singapore-based startup’s oversubscribed round was led by venture capital firm Quest Ventures, with participation from existing investor SPH Ventures, and new investors iGlobe Partners and XA Network.
Jeffrey Seah, a partner from Quest Ventures, will join Partipost’s board as director. He was previously a board observer from Quest Ventures’ earlier investment in the platform.
“They [Partipost’s founders] have balanced 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… increasing contribution to sales,” Mr. Seah said in a press statement.
Partipost saw a threefold increase year-on-year in the total number of influencers during the pandemic, as the crisis highlighted the need for businesses to build a strong presence online. In the Philippines, where its app was launched at the beginning of July, the platform has garnered more than 4,000 Partiposters.
“In terms of notable Filipino influencers, our niche is in nano influencers, the everyday people, so I wouldn’t say there’s a specific notable influencer,” Ms. Tam added.
