Mavrck has raised another $5.8 million in funding, bringing its total raised to $13.8 million.
When the
company raised its Series A back in 2015, it was focused on helping brands work
with “micro-influencers” who were already using their products. Now it
describes itself as an “all-in-one” influencer marketing platform, offering a
number of tools to automate and measure the process.
Last month,
Mavrck announced new features for Pinterest, where it’s now an official
marketing partner. It also says it’s been doing more to improve measurement and
detect fraud — on the fraud side, it promises to analyze a “statistically
significant sample” of an Instagram account’s followers, and of the accounts
that engage with their content, to determine if they’re bots.
Customers
include P&G, Godiva and PepsiCo, and the company says recurring revenue has
grown 400 percent year-over-year.
“Everything
that we have done at Mavrck this year has been done with the intention to drive
the influencer industry forward,” said co-founder and CEO Lyle Stevens in the
funding announcement. “Every new capability that we’ve introduced, every
partner that we’ve started working with, every influencer behavior that we’ve
tracked was part of our mission to help marketers harness the power of content
that people trust to drive tangible business value for their brands.”
The new
funding comes from GrandBanks Capital and Kepha Partners. A spokesperson said
this isn’t a Series B, but rather additional capital raised to support
increased demand and channel partnerships.
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