Influencer marketing platform Affable nabs $1m
Singapore-based influencer marketing platform Affable has raised $1m (US$747,000) in seed funding round involving the participation of Decacorn Capital and Sginnovate.
Founded in October 2017 as a Saas platform for influencer marketing, Affable connects brands and marketing agencies with micro-influencers that can add further value to their campaign. It provides tools for brands and agencies for influencer discovery, campaign management, content vetting, and ROI measurement using state-of-the-art machine learning technologies.
“Affable is building a self-service platform where a marketer will be able to find, engage and measure any influencer they work with globally. We provide this as a subscription platform to customers who find influencers on our platform using search parameters relevant to the audience they want to reach,” said CEO and co-founder Nisarg Shah.
Customers can view detailed demographic and psychographic insights about the followers and information about competing brands that the influencer might have collaborated with in the past. Customers can also analyse the performance of the influencer posts through the Affable platform and if they are reaching the target audience.
One-stop shop for influencer marketing
“We launched early in order to avoid developing features that customers do not want. This resulted in the customers always demanding more features which was a good problem to have,” Shah added.
The startup was incubated by Entrepreneur First, who in turn pitched in for the startup’s latest funding round along with BANSEA and a host of other angel investors including senior executives from Microsoft and Google. Affable’s funding round also marked the first participation of Sginnovate in funding promising firms through its Startup SG Equity Scheme.
The startup plans to use the funding to support product development by hiring engineers to scale their technology and fuel their expansion plans to key markets across Southeast Asia over the next 18 months.
But the dream has always been larger than that as Affable aims to be a household name.“today, there exists Google Adwords for search ads and facebook ad network for sponsored ads. Five years from now, Affable wants to be that one-stop platform for word-of-mouth marketing through influencers, for any company size, anywhere in the world.”