Affable.ai raises $2mn in funding from Prime Venture Partners, others

With the fresh funding, Affable plans to expand into international markets such as the US, a statement said.Affable has raised USD 2.8 million about Rs 20.4 crore till date from Prime Venture Partners, Decacorn Capital, SGInnovate, Entrepreneur First and strategic angel investors, it added.Affable, which was founded by Nisarg Shah and Swayam Narain in 2017 and has 20 employees working remotely across geographies, helps brands and agencies to streamline their influencer strategies through various phases.

Singapore-based marketing-tech startup Affable.ai on Tuesday said it has raised USD 2 million (about Rs 14.6 crore) from Prime Venture Partners, Decacorn Capital and SGInnovate. With the fresh funding, Affable plans to expand into international markets such as the US, a statement said.

Affable has raised USD 2.8 million (about Rs 20.4 crore) till date from Prime Venture Partners, Decacorn Capital, SGInnovate, Entrepreneur First and strategic angel investors, it added.

Affable, which was founded by Nisarg Shah and Swayam Narain in 2017 and has 20 employees working remotely across geographies, helps brands and agencies to streamline their influencer strategies through various phases. It tracks more than three million influencers across Instagram, Facebook, YouTube, and TikTok. Affable's artificial intelligence-driven, self-service SaaS platform helps brands and agencies run high impact influencer marketing campaigns. It is being used by over 45 top brands and agencies including Huawei, Wipro, Pomelo, Fresh, Omnicom, Dentsu, and We Communications. Southeast Asia has become an ideal ground for influencer marketing, and the market is estimated to reach USD 2.59 billion by 2024. Globally, the segment is pegged to reach USD 15 billion by next year. The growth estimates are attributable to the growing number of internet users and a majority of them using smartphones.

Also, the pandemic has boosted the amount of time spent on digital media like social media, gaming and OTT platforms. Brands are working with social media influencers to connect with their consumers on these digital platforms.

''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,'' Affable.ai CEO and co-founder Nisarg Shah said.

Sgag added that Prime brings a depth of experience in scaling global SaaS companies, operational expertise, as well as a strong network that can be leveraged during Affable's growth phase.

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