Prime Venture Partners, Decacorn Capital, and SGInnovate have all invested in Affable.ai, a Singapore-based martech business. Affable intends to use the new capital to grow into international areas such as the United States.
With its AI-driven self-service SaaS platform, the business assists brands and agencies in running high-impact influencer marketing campaigns. Huawei, Wipro, Pomelo, Fresh, Omnicom, Dentsu, and We Communications are among the top 45 brands and agencies that use it. Over three million influencers are tracked by the company across Insta, Linkedin, Google, and TikTok.
Affable has secured $2.8 million from Prime Venture Partners, Decacorn Capital, SGInnovate, Entrepreneur First, and strategic angel investors, including the current round. The company, which is based in Singapore, employs 20 people who work remotely from various locations.
“We see a great opportunity in engaging with businesses to enable the much-needed, data-driven influencer marketing campaigns,” said Nisarg Shah, CEO and Co-founder of Affable.ai. “The industry-leading brands and agencies with which we collaborate confirm our confidence in the importance of analytics in the micro-influencer marketing process,” he added.
“We are really happy to join with Prime since they provide a wealth of experience building global SaaS firms, operational knowledge, and a strong network that we can tap during our growth phase. Simultaneously, involvement from our existing investors is a strong endorsement,” he continued.
Affable was a component of the Entrepreneur First cohort and was formed in 2017 by Nisarg with Swayam Narain. Throughout the design, research, implementation, and reporting phases, the business assists brands and agencies in streamlining their influencer strategy.
“Data-driven analytics is the need of the hour in the influencer marketing ecosystem, which is a new and developing marketing channel that has gained up pace in the previous three to five years,” said Shripati Acharya, Managing Partner, Prime Venture Partners. “For firms with a large marketing budget, we believe celebrity endorsement will become a common marketing channel”, Shripati added.
According to him, Affable’s technological differentiator will change the way companies and agencies deal with micro-influencers and celebrities, ensuring that their marketing initiatives provide the highest possible return on investment.
Affable helps marketers locate influencers, manage campaigns, and track results using advanced machine learning and big data analytics. Affable provides clients with data-driven insights and analytics to assist expedite their micro-influencer marketing process, which is currently very manual, time-consuming, and dependent entirely on guesswork.
According to a statement released by Prime Venture Partners, Southeast Asia has become an excellent environment for influencer marketing to flourish, with its youthful demographics and growing use of social platforms, and the market is expected to reach $2.59 billion by 2024.
Traditionally, the influencer marketing process entails manually locating influencers, evaluating audience quality, and tracking and assessing results, according to the report. Affable has automated and intelligently built proprietary algorithms around its data architecture to make this process automated and intelligent. It also employs advanced machine learning and image processing models to accurately map influencers to brands and calculate campaign ROIs.
