Influencer platform Lumanu has raised $1m in seed funding in order to expand its marketing reach.
Lumanu aims to use the $1m to stretch its resources across several sectors, including fashion, beauty and hospitality.
Investors in Lumanu included Northwestern Mutual's Cream City, Venture Capital, Rightside Capital and former Macy's chief revenue officer Peter Sasche.
“Brands continue to invest in influencer marketing, but most hit a ceiling in their ability to scale their influencer programs,” former Macy’s chief marketing officer and strategic adviser Martine Reardon said in a release.
"Before Lumanu, growing an influencer program required activating more influencers to create more and more content, and that’s a lot of work and highly inefficient. By giving brands control over amplifying their best influencer and react based on business results, Lumanu is helping influencer marketing become a viable digital channel that’s easy to measure and scale.”
Lumanu is a platform that allows brands to collate data from a roster of influencers. The platform collects data from social media and uses it to track the effectiveness of a post or advert.
The company also coined SmartBoost, a tool that optimises media spend based on a brand's objective, budget and audience.