THE WHAT? Affiliate marketing platform ShopMy has raised US$8 million in Series A funding, with the round led by Granite Telecom Chief Operating Officer Rand Currier, as well as a group of private investors, according to WWD.com.
THE DETAILS The platform allows creators to stream affiliate marketing and paid sponsorships with brands, with celebrities such as Olivia Palmero using the service.
Originally focused solely on beauty creators, it’s now expanded to incorporate fashion, wellness and nutrition.
THE WHY? ShopMy has stated that the funding will allow the team to scale engineering product and design, build a mobile app version of the platform and expand the VIP shop manager program.
Discussing the investment, one of the private investors Justin Kan, founder of video livestreaming service Twitch, said, “I am a strong believer that collaboration between content creators and brands will define the next decade of advertising and the ShopMy platform is the most impressive platform I’ve seen in the space. Their thoughtful approach to the underlying data infrastructure and focus on user experience has really set them apart — I’m excited to be a part of it.”