Mavrck has raised another $5.8 million in funding, bringing its total raised to $13.8 million.
When the company raised its Series A back in 2015, it was focused on helping brands work with “micro-influencers” who were already using their products. Now it describes itself as an “all-in-one” influencer marketing platform, offering a number of tools to automate and measure the process.
Last month, Mavrck announced new features for Pinterest, where it’s now an official marketing partner. It also says it’s been doing more to improve measurement and detect fraud — on the fraud side, it promises to analyze a “statistically significant sample” of an Instagram account’s followers, and of the accounts that engage with their content, to determine if they’re bots.
Customers include P&G, Godiva and PepsiCo, and the company says recurring revenue has grown 400 percent year-over-year.
“Everything that we have done at Mavrck this year has been done with the intention to drive the influencer industry forward,” said co-founder and CEO Lyle Stevens in the funding announcement. “Every new capability that we’ve introduced, every partner that we’ve started working with, every influencer behavior that we’ve tracked was part of our mission to help marketers harness the power of content that people trust to drive tangible business value for their brands.”
The new funding comes from GrandBanks Capital and Kepha Partners. A spokesperson said this isn’t a Series B, but rather additional capital raised to support increased demand and channel partnerships.