Skimlinks backed for £900,000
The firm that helps online publishers monetise their content secures Series A funding
A company that enables online publishers to monetise their content through affiliate links has received £900,000 of Series A funding, it was announced today.
Skimbit’s platform, Skimlinks, automates the process of creating and maintaining affiliate links and enables publishers to link to relevant retailers and brands more easily. Publishers add a piece of code to their site footer, which converts retailer links into affiliate links, enabling them to earn commission from more than 7,000 retailers without spending time on their own affiliate marketing campaigns. The Series A funding round was led by Sussex Place Ventures, with investors including the National Endowment for Science, Technology and the Arts (NESTA), The Accelerator Group and business angels, many of whom also participated in Skimbits’ seed round earlier this year.
Alicia Navarro, Skimbit CEO, said the firm has achieved average month-on-month growth of 35% in the past year, with £6m in merchant sales going through the platform in November 2009.
“We’ve proven that we can grow despite a global recession, and as the economy recovers, we aim to grow even more quickly, and make affiliate marketing a ubiquitous revenue model for the mainstream of publishers,” she said.
Skimbit chairman, Alex Hoye added: “As content providers face life beyond the printing press, Skimlinks’ truly disruptive product offers everything I love about a business; disruptive technology, revenue generation, great user experience, and an insanely-talented management team.”
The investment will help fund the firm’s expansion into the US, sales and marketing, and developing a new range of products and add-ons to help publishers earn more revenue from their content.
Richard Gourlay, managing partner at Sussex Place Ventures, added: “In a short time, Skimlinks has grabbed a valuable claim at one of the most exciting frontiers in the e-commerce landscape. This financing will allow Skimlinks to secure its place as the go-to partner for publishers seeking to maximise their affiliate marketing revenues.”
Launched in December 2008, the Skimlinks platform is now being used by thousands of website publishers, including Hachette Filipacchi Media US, Mirror.co.uk, AV Forums and Future Publishing.
© Crimson Business Ltd. 2009