ShopMy, an affiliate marketing platform for influencers, raised a $77.5 million in its Series B round, it announced on Friday.
The funding round — ShopMy’s second in a year after announcing a $18.5 million Series A last March — was led by venture capital firms Bessemer Venture Partners and Bain Capital Ventures. Other investors include Eric Chan, the chief business and strategy officer at Gap Inc., as well as influencers Campbell “Pookie” and Jett Puckett, interior designer and creator Shea McGee and YouTuber Camila Coehlo.
ShopMy is predominantly an affiliate marketing platform, offering influencers and creators commission when a follower makes a purchase after clicking one of their links. However, in the past year, it expanded its functions around gifting (its “Lookbooks” feature) and sponsored content (which it calls “Opportunities”). It counts 50,000 brands as part of its commission network, while 550 use its more advanced features, including Dior and Lululemon.
ShopMy, which has 100,000 creators in its roster — double what that number was less than a year ago — will use this latest cash injection to expand its team and grow its presence in verticals beyond fashion and beauty, including family, hospitality and wellness.
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