Influencer platform Vamp has secured an $8.5 million round led by Investec, exceeding the company’s original target of $5-8 million. The funding round came from existing investor Perennial, new investors The Thorney Investment Group, and SpringCapital, as well as the Investec Emerging Companies Fund I.
Vamp will invest the funds in scaling its self-serve platform and accelerating its transition into a technology marketing company. The platform will be offered to Vamp’s existing global customer base and its launch provides an affordable option for smaller agencies and brands. Since its establishment in 2015, Vamp has been connecting global clients, including the likes of Facebook, Estée Lauder, Huawei, Adobe and Williams Sonoma, with content creators.
The investment will see Ben Sebel, co-manager of the IEC Fund I from Investec join the Vamp Board. Andrew Wheater will also join Vamp as finance director in May, bringing his strong digital media experience gained across Asia, Europe and the US. Both additions will strengthen the leadership bench at Vamp.
“I am delighted to close this funding round and have the support of our new investors with the follow on investment from Perennial, particularly during the current climate,” said Gill Findlay, CEO of Vamp.
“High-performing social advertising is more important than ever. Brands need to respond to the impact of COVID-19 on their customers, who are spending more time engaging with social content and buying online. Currently, brands have access to more creators and can achieve up to 60% more reach for the same spend,” she continued.
The funding follows a successful 2019 for the company as it saw FY 2019 revenues reach over $10 million, up 75% on the previous year.
“We strongly believe in the growth opportunities for Vamp. They offer brands scalable, high-quality content that outperforms and disrupts traditional content in an increasingly digital and social world,” said Karen Chan, Investec Emerging Companies.