Influencer Marketing Startup ClanConnect.ai Raises INR 5 Cr Led by Venture Catalysts
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ClanConnect.ai, an online platform that connects brands to influencers, announced on Wednesday that it has raised INR 5 crore seed capital.
The funding round was led by seed and angel investment firm Venture Catalysts along with a cohort of angel investors that include MD of Forest Essentials Samrath Bedi, Sandeep Aggarwal of Droom.in, Haptik’s co-founder Aakrit Vaish and Redchillies VFX chied creative officer Haresh Hingorani.
Founded by Kunal Kishore Sinha, who has co-founded PR and communications firm Value 360, Sagar Pushp, former head of digital media at Cheil India and filmmaker Anshai Lal, ClanConnect is an artificial intelligence-enabled platform that brings together discovery, management and performance analytics under one system for brands to help them scale their influencer marketing.
The platform offers 30 different parameters that determine the suitability and reach of each influencer present on the platform. To simplify the interaction between all stakeholders—individual influencers, talent hubs, agencies and brands—the platform makes use of instant analytics, progress reports and campaign ROIs, among other things to help all the stakeholders derive the necessary learnings.
“Through targeted searches and customizable analytics, marketers are able to identify and partner with more relevant influencers,” the company statement said.
For influencers, it is an easy and seamless way of engaging with larger brands.
“I strongly believe that this (influencer) community has an enormous potential that is still untapped. It will do considerably well if provided the right push and proper industry support. A dedicated AI-driven Influencer Marketing and Collaboration Platform is our take to offer the same,” said co-founder and CEO, Pushp.
The company mainly caters to brands in automobile, fashion, travel, fitness, food, technology, lifestyle, and entertainment categories.
Commenting on the deal, Apoorva Ranjan Sharma, co-founder and president, Venture Catalysts, said “The Global Influencer Market is valued at 9 billion USD and expected to touch 24 Billion USD by 2025. With pandemic giving boost to digital adoption, we are confident that people-to-people marketing will become a mainstream marketing tool. We are excited to become a part of the ClanConnect.ai’s journey into a fiscally disciplined SaaS business that will solve fundamental problems of this growing industry.”