Influencer marketing platform ShopMy raises $77.5 million

The news: ShopMy raised $77.5 million in a Series B funding round that values the creator marketing platform at $410 million, a significant jump from its $80 million valuation in March 2024, per The Wall Street Journal.

ShopMy provides several tools tied to measurable metrics, including solutions that help brands manage gifting programs, identify top-performing micro-influencers, and create commerce links for creators to share with their followers.

Influencers earn commissions when followers purchase through their ShopMy links, while brands use the platform to track sales from creator campaigns.

Zooming out: Influencer marketing has become a key component of the media mix, with US spending projected to reach $9.29 billion in 2025, a 14.2% YoY increase. This growth will outpace both digital and social ad spend growth, though influencer marketing will still account for a smaller share of overall marketing budgets.

Companies like ShopMy and Mavely aim to serve brands’ desire to see metrics and a clear ROI behind their spending.

Our take: ShopMy has primarily focused on beauty, fashion, and skincare marketing but sees significant growth opportunities in adjacent categories like wellness, maternity, and food and beverage. The platform also aims to expand its advertiser base internationally.

Go further: Read our Influencer Marketing Agency Ecosystem 2024 report.

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