(L-R) – Nisarg Shah, co-founder & CEO & Swayam Narain, co-founder and CTO
Affable.ai, a Singapore-based influencer marketing startup, announced today that it has raised US$2 million from Prime Venture Partners, Decacorn Capital, and SGInnovate.
The company plans to expand into international markets such as the US with the newly raised capital.
With influencer marketing processes being extremely manual, time-consuming, and based on guesswork, Nisarg Shah and Swayam Narain decided to launch a solution that would help brands streamline their micro-influencer marketing process.
They founded Affable.ai in 2017 during their time in Entrepreneur First with the aim to bring more transparency and clarity to influencer marketing.
Affable.ai not only uses advanced machine learning and big data analytics to help brands run high-impact influencer marketing campaigns but also detects fake followers, discovers follower interests, and classifies social media users based on brands, fan pages, etc.
The company said that it tracks more than three million influencers across Instagram, Facebook, YouTube, and TikTok.
Some of its clients include top brands and agencies including Huawei, Wipro, Pomelo, Fresh, Omnicom, Dentsu, and We Communications.
“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,” Shah said.
“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 three to five years. We believe that influencer marketing will become a mainstream marketing channel for brands with a significant budget allocation. We are excited by the demand and the potential for this service and are delighted to back founders who are passionate and have deep expertise in this field,” Shripati Acharya, Managing Partner of Prime Venture Partners, added.
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, Southeast Asia has become an ideal ground for influencer marketing to flourish and the market is estimated to reach US$2.59 billion by 2024.
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