Influencer focused startup Mavrck has raised $5.8 million in another round of funding.
The company ran its first round of Series A funding back in 2015 and has now raised a total of $13.8 million. This latest funding round was backed by GrandBanks Capital and Kepha Partners.
According to a Spokesperson at Mavrck, this round of funding was not Series B, but an extra injection of capital to cater for increasing demand. The company also said that recurring revenue is up by 400 per cent year-on-year.
“Everything that we have done at Mavrck this year has been done with the intention to drive the influencer industry forward,” said co-founder and CEO Lyle Stevens in an announcement.
“Every new capability that we’ve introduced, every partner that we’ve started working with, every influencer behavior that we’ve tracked was part of our mission to help marketers harness the power of content that people trust to drive tangible business value for their brands.”
Mavrck also became a Pinterest marketing partner earlier this year, in order to help creators on their platform analyse their content. Pinterest's new API enables Mavrck to look into creator's work on the platform and measure engagement metrics such as views, close-ups and click-through rates.