Influencer marketing platform Partipost raised USD 5 million in a Series A funding round led by Quest Ventures, with participation from existing investor SPH Ventures, as well as new investors iGlobe Partners and XA Network. Following the investment, Jeffrey Seah, partner at Quest Ventures, will join Partipost’s board as director. Part of the fresh funds will be for Partipost’s entry to Vietnam.
“Since our initial investment, Jon, Ben, and Tony have demonstrated their business acumen and operating verve,” said Jeffrey Seah in a statement. “They 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 as social commerce notches increasing contribution to sales.”
The global influencer marketing industry is set to grow to USD 13.8 billion this year, according to a report by Influencer Marketing Hub. Southeast Asia’s young demographics and high degree of social media usage make the region a breeding ground for influencers and online celebrities. Indonesia, Malaysia, and Thailand have the most influencers on Instagram in Southeast Asia. The top industries that advertise with influencers are fashion, travel, beauty, food, fitness, and parenting. Besides Instagram, TikTok and YouTube are also popular channels for influencer marketing.