Culver City-based company CreatorIQ is creating tools to help businesses market their products by harnessing the power of content creators. The company announced Wednesday that it raised $40 million in fresh financing to advance the development of its influencer marketing platform. The raise included participation from several existing investors including TVC Capital, Kayne Partners Fund and Affinity Group, among others.
CreatorIQ’s platform helps businesses find, assess and qualify content creators before adding them to their marketing networks. The cloud-based platform is equipped with Google AI recognition that helps businesses sort through creator data by interest or related brand affinities. Those signed on to the platform can also view a creator’s audience profile and growth history.
“We’ve witnessed accelerating growth of the creator economy over the past eighteen months fueled by the convergence of creators, commerce, and community,” Igor Vaks, founder and CEO of CreatorIQ, said in a statement. “Our customers rely on creator partnerships to grow their businesses — from building brand loyalty to co-launching new e-commerce solutions together.”
Social platforms like Instagram are constantly updating with new features for creators to engage with and monetize their followers. It’s CreatorIQ’s belief that as these creators better learn how to incorporate these features into their daily activities, brands must also evolve their marketing strategies in order to adapt.
“Brands don’t develop sophisticated influencer marketing programs overnight. They pass through several stages as they ramp up their strategies and capabilities,” a spokesperson for the company said in a statement. “Our job is to both assist them in their current stage, and nurture them into the next one, wherever they are in their journey.”
Following the latest raise, CreatorIQ will look to expand the e-commerce and measurement capabilities of its platform. The company is also expanding the size of its team. CreatorIQ is now hiring for five open positions across its customer success, sales, HR and operations teams.
In addition to its LA headquarters, CreatorIQ has seven offices across the U.S. including cities like San Francisco, Denver, Austin and Chicago. The company’s international presence extends to metropolitan locales like London and Toronto.
CreatorIQ has raised over $80 million in venture capital financing to date, according to the company.
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