Promoty – a platform that connects brands with influencers Instagram, has concluded an investment attraction campaign with € 1.2 million investment to strengthen its market position and integrate other social media platforms.
Last week, Promoty announced an investment of € 800,000 to strengthen its position in the Baltic and Scandinavian markets, as well as expand its operations on other platforms such as TikTok and Youtube.
Within 28 hours, investors showed interest in more than € 1.7M, so the funding round was increased to € 1.2M. “We are extremely grateful and happy for the great interest in our financing round,” said Alex Koha, CEO and co-founder of the company.
Additional attracted capital will be invested in technology improvement. “Our product development goal includes product development and adaptation to the mass market, as well as the integration of other popular social media platforms such as TikTok and Youtube,” Koha said. “The extra investment will help us achieve these goals faster.”
Founded at the end of 2017, the influenza marketing platform focuses on building authentic relationships between brands and influencers. “We really believe that the best collaborations come when brands find their true fans,” explains Koha.
According to customers, Promoty has completely changed the way influenza marketing is organized. “Promoty allows influencer marketing to be controlled within the company,” says Andres Paomees, Solaris Communications Manager. “In the past, we needed to work with an agency that both made the process more expensive and more time-consuming. We now work with influencers in almost every campaign. ”
Leading funding leader Vijay Sharma, an experienced entrepreneur, an angel investor, as well as the previous strategic investor, says: “Promoty provides a tool to take advantage of this phenomenon. A strategy that focuses on the “long tail” of micro-influenza, combined with thorough execution and achievement of goals, is a combination that cannot be ignored. “
“He gave us a lot of good advice last year, ”says Koha. “It has also helped to ‘open the door’ to Asia, which can lead to something interesting.”
Promoty’s initial € 65k seed investment was invested by Kristjan Raude and Madis Müür, both members of the Estonian Business Angels Network. In February 2020, Funderbeam raised € 445,000 in Promoty.
The Estonian start-up Promoty has created an influenza marketing platform with a focus on micro-influenza. To date, the platform has been used by more than 46,000 influencers and 3.4,000 companies in 8 countries, including Latvia. Promoty customers include Wolt, Circle K, Orkla, Swedbank, SEB and others
gauze start-up Promoty
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