Micro-Marketing Tech Platform Tribe Nabs $7.5 Million In Series A Funding
Tribe, the micro-influencer platform from down under, made massive waves with the announcement of a $7.5 million-dollar influx and the goal of U.S. expansion. The Series A funding round is a huge win for the tech company that was started in Australia in 2015 by Jules Lund. Mr. Lund is a famous television and radio host that founded Tribe as a response to the audience’s rapidly growing demand for unique, branded content.
According to Jules Lund, hyper-personalization and micro-marketing capabilities allow brands to target audience members more narrowly than ever. Where there once was a need for three pieces of well-crafted content, there is now a solid demand for 100 pieces of content addressing an expanded version of those three initial pieces. Many creative agencies have found themselves unable to supply that volume of well-crafted content at a feasible cost for many outlets. Additionally, many of those creative agencies can’t provide the lightning-fast turnaround that those same outlets need in order to satisfy the content demand of audiences. This fact applies not only to great content, but it also expands to include images and video, with stock images showing to be no longer able to grab audience attention and having falling click-through rates.
Tribe is unique from the multitude of other companies focusing on influencer content due to the fact that brands can simply post their requests. Influencers and micro-influencers are then able to basically bid to earn the project, submitting their work and only receiving a payment if the brand that initially posted the request decides to accept the content. Additionally, Tribe enables brands to connect with influencers and micro-influencers who already use their products or services and enjoy them. Gone are the days of brands having to send out a mass mailing of free products to existing influencers or offer up thousands of free subscriptions in the hopes of finding just one or two influencers that are a good fit.
Tribe’s $7.5 million Series A funding round comes after the company has already secured work with major brands like L’Oréal, Marvel and Unilever. The platform is already generating upwards of $250,000 every day in branded content, with the United Kingdom currently being the largest market. However, the U.S. is an exceptionally fast-growing market for Tribe, current accounting for 20% of the influencers who utilize Tribe.
The Series A funding will help Tribe accomplish its over-arching goal: influencer marketing done right. Chris Burch, CEO of Tribe-investor Burch Creative Capital, says that it is his belief that the U.S. market is primed and waiting for exactly what Tribe’s tech platform has to offer for the massive influencer market in America. He believes that there is massive U.S.-growth for Tribe on the horizon and he wanted to ensure Burch Creative Capital was a part of that success.
This funding round will enable micro-influencers to continue to celebrate and share any participating brand’s product through imagery and content. There seems to be limitless potential for Tribe’s expansion, both in the U.S. and throughout the rest of the world.
