Influencer marketing company CreatorIQ has raised $24 million in fresh funding.
Led by Kayne Partners Fund (the private equity group of Kayne Anderson Capital Advisors), the Series C round will fund growth in five areas of CreatorIQ, the company said: user experience, data science, paid media and advanced measurement, global expansion, and strategic partnerships.
The round’s other participants include TVC Capital and Unilever Ventures.
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CreatorIQ uses its artificial intelligence-driven platform, Enterprise Creator Cloud, to hook brands up with creators, manage their ad campaign spending, and evaluate how campaigns perform. Its clients include major companies like Disney, Salesforce, Sephora, and Unilever. Prior to this round, the six-year-old business had taken in a total of $15.5 million, with Affinity Group leading its Series A in 2017 and TVC Capital leading its Series B last summer.
CreatorIQ says part of its plans for expanding partnerships came to fruition last month, with the launch of its Certified Partner Program. Through that program, it allied with influencer marketing and talent agencies like Collectively, Digital Brand Architects, Everywhere Agency, ShopStyle Collective, and Sway Group. The Partner Program links up brands with influencers from the above entities to appear in sponsored content, with campaigns that harness CreatorIQ’s software.
“The inaugural partner agencies are long-term, trusted partners of CreatorIQ with proven and deep, early market expertise in the influencer, social, and digital space,” CreatorIQ said in a statement. “These partners have been an invaluable part of our organization, driving innovation, working alongside our teams to build best practices and drive our growth as experts in the space.”