ShopMy has announced that it raised over $77.5 million in its Series B funding round, led by Bessemer Ventures and Bain Capital.
The Round also saw the participation of Menlo Ventures and previous investors Inspired Capital and AlleyCorp. The Round Overall featured Jeremy Levine, Bessemer Venture Partners (Pinterest, Shopify, LinkedIn); Scott Friend, Bain Capital Ventures (Rent the Runway, Attentive, Docusign); Amy Wu, Menlo Ventures (Higgsfield, Mozi, Epic Games), and strategic investors including Geoff Donaker (Yelp COO), Eric Chan (Gap CBO), Campbell + Jett Puckett, Shea McGee, and Camila Coehlo.
ShopMy revolutionizes creator marketing by providing performance metrics previously exclusive to paid search and social. Its innovative platform combines direct creator connections, paid partnerships, and affiliate marketing with powerful automation, creating a new standard for measurable influencer campaigns.
ShopMy has attributed over $352 million in brand sales and a 5x return on investment. More than 100,000 creators currently utilize the platform to generate commissionable revenue.
What will ShopMy do with the new Funding?
ShopMy plans to use the new investment to fuel significant expansion. The company will grow its team and broaden its reach into new market sectors, including health and wellness, food and beverage, hospitality, and the kids and family market.
While expanding into these new areas, ShopMy will also strengthen its existing leadership position in the fashion and beauty industries.
This expansion builds on the platform’s current success, with over 50,000 brands already offering commissionable products through ShopMy and more than 550 brands utilizing its technology to transform creator partnerships into effective performance marketing channels.
This strategy is supported by the trust of major premium brands like Lululemon, Nordstrom, Dior, Hill House Home, and Sakara, who rely on ShopMy to deliver measurable results.
According to Bessemer Partner Jeremy Levine, ShopMy has found a way to scale authentic influencer marketing, converting trusted recommendations into quantifiable performance marketing. This innovative approach to commerce and the company’s impressive growth and profitability have attracted significant investment to further ShopMy’s vision.
If you click on a link and make a purchase we may receive a small commission. Learn more. All content on this site is provided with no warranties, express or implied. Use any information at your own risk. Privacy Policy.
Discover more from BITVoxy Digest
Subscribe to get the latest posts sent to your email.