Partipost received additional US$5 million in funding from several investors led by Quest Ventures.
Jakarta, TechnoBusiness ID (English Edition) ● Partipost, a Southeast Asian and Taiwanese influencer marketing platform from Singapore, announced on Thursday (28/7) that it has received additional funding for Series A totaling US$5 million.
The additional funding was obtained from several old and new investors led by Quest Ventures. The existing investors who participated in the funding were SPH Ventures, plus two new investors, namely iGlobe Partners and XA Network.
In addition to product and feature development, Partipost—which has now penetrated the Singapore, Indonesia, Malaysia, Philippines, and Taiwan markets—will utilize the new funding for expansion into the Vietnam market.
Partipost’s market strengthening and expansion was carried out considering that the influencer marketing industry in Southeast Asia continues to grow rapidly, even according to the Influencer Marketing Hub this year it is worth US$13.8 billion.
The COVID-19 pandemic has increasingly pushed the influencer marketing business to grow fast. Partipost, founded by Jonathan Eg, Benjamin Ramli, and Tony Jen in 2016, has also managed to acquire a number of global corporate clients.
Some of Partipost’s clients, including Pepsi, Dettol, The Body Shop, and Unilever-owned brands such as St. Ives and Simple Skincare. In addition, the number of Partipost influencers has also tripled from year to year.
“This funding round will allow Partipost to develop technology, execute expansion plans, and double down on existing businesses,” said Jonathan Eg, Partipost founder and CEO.
Partipost is also expected to become a platform used by millions of brands and allow everyone to become an influencer in their own authentic way.
“Since our initial investment, Jon, Ben and Tony have demonstrated business skills and passion for operating in three countries,” said Jeffrey Seah, partner at Quest Ventures.
They, continued Jeffrey, have balanced the need to recruit nano influencers who are trusted by brands to promote their products with brands who are looking for authentic relationships to boost sales.
Post-funding, Jeffrey—who was previously a brand observer of Quest Ventures’ investment in Partipost—will join Partipost’s board of directors.●
—Purjono Agus Suhendro, TechnoBusiness ID ● Photo: Partipost
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