[Press Release] Partipost Secures Extended Investment of USD5 Million
Singapore, 21 July 2021 - Partipost, Asia’s fastest-growing crowd influencer marketing & commerce platform has received extended funding on their series A, with a total investment of USD5 Million. The recent extended and oversubscribed round is led by Quest Ventures with participation by existing investor SPH Ventures, and new investors iGlobe Partners and XA Network. The funds will be used to accelerate product and market expansions as the COVID-19 business climate propels the growth of Partipost’s commercial clientele.
Photo: Partipost’s Founding Team. L-R Jonathan Eg, Benyamin Ramil, Tony Jen.
This investment with new and existing institutional and strategic investors reflects the increased mainstream market acceptance and outstanding growth potential of the influencer marketing industry, which according to a report by Influencer Marketing Hub is expected to be worth USD13.8 billion in 2021. The funds raised will further develop Partipost’s tech platform and accelerate business expansion into Vietnam, as well as strengthen current operations in Singapore, Indonesia, Taiwan, Malaysia, and the Philippines.
With the legal completion of this fundraising round, Jeffrey Seah - Partner, Quest Ventures - will join Partipost’s Board as Director. He was previously Board Observer from Quest Ventures’ earlier investment in Partipost.
Partipost is Asia’s fastest-growing crowd influencer marketing & commerce platform. It drives authentic word-of-mouth marketing by matching brands to influencers with the highest brand affinity. With data insights collected through its in-app polls and user behaviours, Partipost’s data-centric framework crowdsources influencers with follower sizes ranging from a few hundred to millions of followers. Driven by consumers' growing need for trust in influencer marketing and commerce, Partipost rewards influencers for both their media reach and message impact in their curated social media content message, determined by their followers’ responses.
The COVID-19 pandemic further highlighted the need for businesses to build a strong presence online. Partipost has always been dedicated to helping businesses achieve their objectives, and as a result, has been able to maintain existing clients while onboarding new clients. This includes Pepsi, Dettol, The Body Shop, and brands under Unilever such as St. Ives and Simple Skincare. Partipost also saw a threefold increase year-on-year in the total number of influencers during the pandemic.
“Since our initial investment, Jon, Ben, and Tony(founders) have demonstrated their business acumen and operating verve across the 3 markets they originally operate in. 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. We look forward to the leaders expanding their formula to new markets and filling up the management bench strength for further growth,” added Jeffrey Seah.
Earlier this year, Partipost expanded to Malaysia and the Philippines. Partipost has also recently rolled out two new initiatives - the Nano Ambassador and Mass Campaign Programs which are better catered to brands focused on achieving brand awareness, sales, and scale. Through these programs, Partipost is set to run more than 10,000 campaigns with over 3,000,000 influencers within the next 18-24 months.
Jonathan Eg, Founder and CEO of Partipost, said: “This extended fundraising round will enable Partipost to continue to improve our technology, execute our expansion plans, and double down on our existing markets. Partipost hopes to be a platform that millions of brands will use and allow everyone to be an influencer in their own authentic way.”
Notes to the Editor
For all media inquiries or interview requests, please contact:
Ms Hillary Tam, Marketing Manager: hillary@partipost.com
About Partipost
Partipost is Asia’s fastest-growing crowd influencer marketing platform, and it’s currently present in Singapore, Indonesia, Taiwan, Malaysia, and the Philippines. It was founded in 2016 and it aims to continue to expand its presence across Asia.
Automating the process of influencer sourcing and campaign management, Partipost allows brands to run marketing campaigns at scale, with speed, and with the right influencers. Powered by influencers across all tiers, ranging from a few hundred followers to millions of followers, Partipost has the goal of driving authentic word-of-mouth marketing for brands.
For more information, visit https://www.partipost.com/.
For brand assets, visit https://bit.ly/partipostbrandasset.
About Quest Ventures
Quest Ventures is a top venture capital fund in Asia. Its portfolio of 90+ venture-backed companies operate in more than 150 cities across Asia, creating employment and advancement opportunities for more than 4,400 employees, while its Enterprise and ESG efforts directly impact thousands more.
For more information: www.questventures.com.
For brand assets, visit https://www.quest.ventures/brandassets.
About SPH Ventures
SPH Ventures is the corporate venture capital fund of Singapore Press Holdings Ltd (“SPH”), Asia’s leading media organisation listed on the Singapore Stock Exchange. The fund size totals S$100 Million. It has a global mandate to invest in early-stage innovative companies in the areas of Digital Media (including advertising technology and content aggregation/ distribution/ consumption) and Consumer Internet (including e-commerce, marketplaces, social media, education technology, financial technology, etc).
For more information, visit https://www.sphventures.com.sg.
About iGlobe Partners
iGlobe Partners is Asia Pacific’s premier cross-border venture capital fund manager. iGlobe is a multinational firm with a strong track record of identifying entrepreneurs and teams that can deliver game-changing innovation to the world. Since the firm’s founding in 1999, iGlobe has managed funds exceeding US$500 million for its investors. Successful and upcoming portfolio exits include Unity Software (NYSE:U), Twist Bioscience (NASDAQ: TWST), ACSL (TYO: 6232), Matterport, Hippo Enterprises, Ginkgo Bioworks, and Nerdwallet.
For more information, visit https://www.iglobepartners.com/.
About XA Network
Launched as part of the Google alumni network in 2018, XA Network is an investment network comprising senior executives from leading global and regional technology companies. Our mission is to provide smart capital to early-stage companies across APAC.
Founders value our members’ distinguished backgrounds as entrepreneurs and senior business builders. Furthermore, our portfolio companies are able to tap into the collective power of deep-rooted networks and expertise across business strategy, product development, and fundraising. XA has invested in a wide variety of promising companies including Tigerhall, Sampingan, Neuron, and Infradigital.
For more information, visit https://xanetwork.co/.