Kofluence Raises $4 Million In Pre-Series A Round
The funds will be utilized to further develop its proprietary platform, accelerate hiring across multiple geographies and scale expansion
Bangalore-based adtech Influencer marketing platform, Kofluence, has raised $4 million in pre-Series A funding round led by Nikhil Kamath, Kunal Shah, Karan Johar, Apoorva Mehta, Sujeet Kumar, Aprameya Radhakrishna, Upsparks, Kiran Gadela and Abhijeet Pai.
The funds will be utilized to further develop its proprietary platform, accelerate hiring across multiple geographies and scale expansion.
"With influencer marketing spending, projected to skyrocket to a whopping $25 billion by 2025, we are confident that the booming creator economy will equip us to scale up our business model. It will help us build a self-serve and assisted SaaS platform to become the go-to martech destination for brands and creators," said Sreeram Reddy Vanga, founder investor of Kofluence.
"Content creators have long been relied on to capture eyeballs through free user generated content. With Kofluence expanding its product suite to encompass creation and monetization tools, creators on the platform will have varied monetization avenues to explore," said principal investor Nikhil Kamath.
Kofluence is an influencer platform with over 100,000-plus creators onboard. The adtech platform provides a collective reach of over 1.6 billion through its creator ecosystem. It has a diverse clientele from over 25-plus industries ranging from F&B, D2C, fintech, medtech, edtech, gaming, BFSI, beauty, hospitality and more, said a statement.