Singapore-based martech start-up Affable.ai has raised $2 million from Prime Venture Partners, Decacorn Capital and SGInnovate.
Affable’s AI-driven, self-service SaaS platform helps brands and agencies run high-impact influencer marketing campaigns and is being used by over 45 top brands/agencies, including Huawei, Wipro, Pomelo, Fresh, Omnicom, Dentsu, and WE Communications. The company tracks more than three million influencers across Instagram, Facebook, YouTube, and TikTok. With the fresh funding, Affable plans to expand into international markets such as the US.
“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 for brands with a significant budget allocation. Affable’s tech differentiation will transform the way brands and agencies interact with micro-influencers and celebrities, ensuring they get maximum RoI from their marketing campaigns. We are excited by the demand and the potential for this service and are delighted to back founders who are extremely passionate and have deep expertise in this field,” said Shripati Acharya, Managing Partner, Prime Venture Partners, in a statement.
Growing market
Founded by Nisarg Shah and Swayam Narain in 2017, Affable allows brands and agencies to streamline their influencer strategies throughout the planning, discovery, activation, and reporting phases and uses advanced machine learning, big data analytics to help brands find influencers, manage and measure campaign performance. With the influencer marketing process being extremely manual, time-consuming and completely based on guesswork, Affable provides brands with data-driven insights and analytics to help streamline their micro-influencer marketing process.
Guidelines for influencer advertising on digital platforms to be out by next month
A global rise in digital consumption continues to propel influencer marketing campaigns among brands across all sectors. Being a mobile-first region along with its youthful demography and growing popularity of social platforms, South-East Asia has become an ideal ground for influencer marketing to flourish and the market is estimated to reach $2.59 billion by 2024. Globally the industry is very bullish and is pegged to reach $15 billion by next year.