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 its now an official marketing partner.
It also says its been doing more to improve measurement and detect fraud on the fraud side, it promises to analyze a statistically significant sample of an Instagram accounts followers, and of the accounts that engage with their content, to determine if theyre bots.Customers includePG, 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 weve introduced, every partner that weve started working with, every influencer behavior that weve 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 isnt a Series B, but rather additional capital raised to support increased demand and channel partnerships.