On May 18th 2021, a Singapore-based marketing tech startup, Affable.ai raised USD 2 Million in a seed funding round. Prime Venture Partners, SGInnovate and Decacorn Capital were the investors of this round.
It claims to bring transparency and leverages machine learning and big analytics for influencer marketing. It helps a brand to find, manage influencers and campaign performance measurement.
The company claims to use the raised amount of funds in expanding its footprints in the International market.
About the company –
Affable.ai is an influencer marketing startup founded and established by Nisarg Shah and Swayam Narain in October 2017. It is an end to end platform which helps companies with automation and intelligence in influencer marketing.
The company’s platform tracks more than 3 Million influencers on social media such as Facebook, Instagram and Tik Tok. The platform of Affable id has been used by more than 45 companies, including big names like Dentsu, We communication, Pomelo, Wipro, Huawei, and Omnicom.
The company made influencer marketing to the value of USD 15 billion last year, as the pandemic made this possible because they spend most of their time on gaming, OTP and Social media.
Words from the investors –
“As the lead investor in Affable’s seed round, Decacorn believes that “prime-time” has arrived in the AI-driven influencer marketing space to monetise the hyper-social, behavioural changes in the post-millennials effectively. We are glad to have worked closely with the Affable team over these past two years in scaling their business from a product-market fit stage to a rapidly growing six-digit MRR as of date. To help Affable scale beyond Asia into the holy grail of the USA, we have ponied up in Affable to the fullest extent.” – Debneel Mukherjee, Managing Partner, Decacorn Capital.
“Data-driven analytics is the need of the hour in the influencer marketing ecosystem, which is a new and upcoming marketing channel and has picked up steam in the last 3-5 years. We believe that influencer marketing will become a mainstream marketing channel, and Affable’s technology differentiation will transform the way brands and agencies interact with micro-influencers and celebrities,” – Shripati Acharya, Managing Partner, Prime Venture Partners.
Words from CEO –
“We see a huge opportunity in working with brands to enable the much needed, data-driven influencer marketing campaigns. The industry-leading brands and agencies we work with reinforce our belief in the need for analytics to streamline the micro-influencer marketing process.” – CEO, Affable.ai.
“Prime brings a depth of experience in scaling global SaaS companies, operational expertise, as well as a strong network that we can leverage during our growth phase and we are very excited to partner with them. At the same time, participation from our existing investors is a great endorsement for us,” he added.
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