How CreatorIQ Works and Ongoing Success in the Industry
Tech startup CreatorIQ differentiates itself from similar influencer marketing channels by focusing more on direct data results and an increase in ecommerce sales as opposed to engagement and impressions. The company allows business owners to directly search for an influencer by category and number of followers to ensure the marketed posts are more effective.
For influencers, the tech startup makes signing up easy with users filling in their social media information, answering pertinent questions that could be valuable to business owners, and launching the profile. Additionally, influencers can get paid directly through CreatorIQ with the company facilitating wire transfers, direct deposits, and the use of PayPal.
Once an influencer and a business begin working together, CreatorIQ provides direct data on the views and engagement on a sponsored post and helps to correlate that visibility to direct ecommerce sales. The company also provides the opportunity for users to pay to boost the post. This will allow a business to use the post as an ad in the social media feed, reaching users who do not follow the influencer.
This simple but comprehensive approach to influencer marketing has proven to be popular with several small and larger brands that have found success through the tech startup. Brands such as Disney, Sephora, CVS, Mattel, H&M, and Yeti all use CreatorIQ for their influencer marketing needs. The onboarding of major users like these have helped the company to quickly expand business around the United States (US) and the world. The tech startup now has offices in Los Angeles, Chicago, New York, London, Warsaw, and Ukraine.
The global expansion helped CreatorIQ to be named in Inc.’s list of the 5000 Fastest-Growing Companies.
CreatorIQ New Funding and Future Plans
In its newest funding round, CreatorIQ raised $40 million in capital. The funding round was supported by TVC Capital, Kanye Partners Fund, Affinity Group, Unilever Ventures, and Silver Lake Waterman. The tech startup has now raised a total of $80 million.
The company plans to use the new funding to improve its current cloud capabilities and bring on new industry veterans in leadership roles. The company will also continue to invest in improving its overall online experience and building up a larger user base.
When commenting on the latest funding round and the ongoing success of CreatorIQ, founder and CEO of the company Igor Vaks said, “We’ve witnessed accelerating growth of the creator economy over the past eighteen months fueled by the convergence of creators, commerce, and community. From high-growth brands to Fortune 500 companies, our customers rely on creator partnerships to grow their businesses — from building brand loyalty to co-launching new e-commerce solutions together. This new funding will allow CreatorIQ to invest in our data, commerce, and measurement technologies to better solve customer outcomes.”
About the Author
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.