Affiliate marketing online isn’t new to the influencer trade, however a more recent identify within the area, ShopMy, thinks it has an opportunity to develop into a number one platform.
The startup, cofounded by Harry Rein, Tiffany Lopinsky, and Chris Tinsley in 2020, lets creators construct shoppable touchdown pages and earn fee from merchandise they hyperlink.
In March, ShopMy introduced it had raised a further $18.5 million for its Collection A after elevating $8 million in 2022, bringing the overall spherical to $26.5 million.
ShopMy describes itself as a “creator-first” platform, because it constructed out its instruments primarily for the use case of creators and slowly added manufacturers onto the platform. The corporate additionally highlights its creator focus as a promoting level to each influencers and types — specifically, within the type of greater fee charges than some opponents.
Manufacturers on ShopMy provide creators fee charges usually between 15% and 30%, a spokesperson for the corporate stated.
“Loads of manufacturers have this concept that they are simply paying influencers for content material versus partnering with them as a gross sales pressure of the corporate,” Lopinsky informed Enterprise Insider.
Whereas affiliate earnings can usually be a smaller share of a creator’s total income (model offers are sometimes a giant chunk), Lopinsky stated she needs to assist creators ink higher fee phrases and safe long-standing sponsorships with ShopMy’s model companions.
However to construct a horny and aggressive community of manufacturers, ShopMy wanted to broaden. For this reason it has continued to lift enterprise capital from companies like Impressed Capital and AlleyCorp, in addition to angel investments from creators on its platform.
“We have continued to essentially deal with trend the sooner a part of this yr, and now we’re specializing in different verticals as effectively,” Lopinsky stated. “However it takes cash to rent a group and to fund advertising efforts to get our identify on the market and do this.”
ShopMy shared a model of the investor pitch deck it used to lift its Collection A add-on. The corporate up to date and redacted some figures within the deck.
Try the 23-page pitch deck ShopMy used to lift $18.5 million: