Nikhil Kamath led a $4 million pre-Series A investment for Kofluence, an ad-tech influencer marketing platform (Co-Founder of Zerodha & True Beacon).
The round included notable investors like Kunal Shah (Founder, CRED), Karan Johar (Filmmaker & TV Personality), Apoorva Mehta (CEO, Dharma Productions), Sujeet Kumar (Co-Founder, Udaan), Aprameya Radhakrishna (Co-Founder, Koo), Upsparks (Micro VC), and Kiran Gadela & Abhijeet Pai (Renowned investors)
“Content creators have long been relied on to capture eyeballs through free user-generated content. But the lack of monetization tools left a gap, with creators not having the necessary help or infrastructure to make a sustainable living out of their content or creativity. With Kofluence expanding its product suite to encompass creation and monetization tools, creators on the platform will have varied monetization avenues to explore.” says principal investor Nikhil Kamath.
“With influencer marketing spends projected to skyrocket to a whopping $25 billion by 2025, we are confident that the booming creator economy will equip us to scale up our business model and build a self-serve & assisted SAAS platform to become the go-to Martech destination for both brands and creators. We pride on what we have built over the last couple of years and we intend on generating multiple product revenue streams out of our AI-led proprietary platform, as a part of our future growth.” says Sreeram Reddy Vanga, Founder Investor, Kofluence.
“Constant alignment/ realignment with the market has helped us find the best product-market fit and therefore not only survive but thrive over the last several years. We have a lot of exciting developments in the pipeline to support the creator economy and with the current round, we are excited to fire on all cylinders in an aggressive manner.” says Ritesh Ujjwal, CEO & Co-Founder, Kofluence.
“Startups have boosted their customer acquisition budgets and Kofluence is well-positioned to power a new wave of social campaigns for brands, helping them with innovative acquisition strategies. This is a large market that is still under-penetrated. We see a massive opportunity and the company has demonstrated strengths in building innovative products. We are thrilled to be a part of Kofluence’s journey. Kofluence is growing rapidly and has built an impressive customer base with a strong leadership team with a laser-sharp vision.” says Mohamad Faraz Founding Partner – Upsparks.