Leading all-in-one influencer marketing platform Mavrck has announced it has raised $120 million in new funding from Summit Partners. The investment will be utilized to help the company further develop its product and expand globally.
“The trust economy, built upon the rise and acceleration of digital democratization and fueled by social proof, has arrived, and with it comes a new set of rules, behaviors and opportunities for brands, creators and consumers,” said Lyle Stevens, Co-Founder & CEO of Mavrck.
“Influencer marketing has evolved dramatically from its earliest, celebrity-centric iteration. This investment will help us to take petabytes of historical data and build recommendation engines to connect enterprise marketers with the right creators, the right way, at the right cost.”
The concept of social proof describes the idea that consumers today are influenced by the collective experiences of others. Online in an e-commerce environment, these commonly come in the form of recommendations, content and reviews coming from friends, similar consumers, creators, and influencers.
As influencer marketing strategies continue to grow and become more common, Mavrck’s platform is designed to help consumer brands create social proof at scale. Its advanced influencer marketing platform comes with the tools to create, monitor, and analyze insights along customer journey touch-points. Around the world, its award winning platform helps connect enterprise brands with appropriate influencers, advocates, and referrers.
Around the world, the AI solution is trusted by more than 600 marketers at top companies. Leading brands such as Disney, Netflix, Doordash, Walgreens, and Express use the platform to effectively manage and measure their influencer marketing strategies.
“Brands are increasingly seeking to harness the power of the very long tail of content creators to help drive brand awareness and influence purchase activity,” said Sophia Popova, Principal at Summit Partners.
“Mavrck’s platform is purpose-built to support brands in these efforts. We are delighted to partner with Lyle and the Mavrck team for this next phase of growth.”