SPH Ventures leads $3.5m funding in influencer marketing firm Partipost

Partipost’s Founding Team: Tony Jen, Jonathan Eg, Benyamin Ramil.

SPH Ventures, the corporate venture capital arm of Singapore Press Holdings (SPH), has led a $3.5 million funding round in influencer marketing startup Partipost, according to a statement.

The financing was joined by Quest Ventures and other undisclosed investors.

Proceeds from the latest funding round will be used to develop Partipost’s tech platform and accelerate its business expansion into Vietnam, the Philippines and Malaysia.

Partipost matches brands with influencers to drive word-of-mouth marketing. It uses data insights through its in-app polls and user behaviour to crowdsource influencers.

The startup launched its mobile app in 2018. It claims to have collaborated with more than 200,000 influencers for over 850 brands across markets.

The company expects to hit over 1 million influencers within the next 18 months on its platform.

“Our latest fundraising round will enable Partipost to develop even better technology and collect more data to help us achieve our goals of helping brands connect to the right crowd of influencers as well as empowering these influencers with ability to be rewarded,” said the startup’s founder and CEO Jonathan Eg.

Partipost operates in the influencer marketing industry, which is forecast to hit $9.7 billion in 2020, according to a report by Influencer Marketing Hub. The industry has seen a spike in the last two years as brands and governments shift their marketing efforts online to target Millennials.

In Southeast Asia, the influencer marketing sector was believed to have reached $638 million last year and is expected to quadruple within five years to reach $2.6 billion by 2024, according to influencer marketing agency IMA.

“Social influencer marketing is one of the fastest-growing segments within digital marketing. Hence, we are very excited to lead Partipost’s Series A round to further accelerate its growth,” said SPH Venture CEO Chua Boon Ping.

The investment in Partipost is the second for SPH Ventures in the influencer marketing space this year. In March, it joined a $3 million seed funding round in Influence.co, a US-based platform for the global influencer marketing community.

SPH Ventures is a S$100 million venture capital fund that invests in early-growth technology companies globally with a typical ticket size of around S$1-2 million and up to S$5 million per round.

“We are impressed by Partipost’s strong traction in Singapore, Indonesia, and Taiwan as a young startup and look forward to partnering it to scale to new markets,” Chua said.

Quest Ventures partner Jeffrey Seah said Partipost’s potential resides in its “ease of onboarding quality content influencers with loyal follower bases.”

Following the investment, Chua and Seah will join Partipost’s board as a director and an observer, respectively.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.