Skimlinks secures $16m to support further growth
Young Gun-founded content platform counts Gawker Media, Hearst and Condé Nast amongst its clients
Content monetisation platform Skimlinks has closed a $16m Series C funding round led by Frog Capital, with participation from BDMI, Greycroft partners, Sussex Place Ventures and Silicon Valley Bank – taking its total invesment raised to $24m.
The London-based start-up was founded in 2007 by Joe Stepniewski and Young Guns 2010 alumni Alicia Navarro, to create native monetisation solutions for publishers by automatically turning product links and references into trackable affiliate links. The platform counts big names Gawker media, Hearst and Condé Nast amongst its clients.
The company has more than 80 offices worldwide, is currently integrated with 20,000 merchants and says that last year it drove $625m worth of e-commerce through its platform.
It will use the growth capital to develop its platform and help generate more revenue for its ever-growing client base. Skimlinks has named this type of shopping-oriented content “comtent”.
Skimlinks co-founder and CEO, Navarro, said: “We have always believed that a strong culture and collaborative values are critical to building a lasting, robust company.
“It made sense that we expand that belief not just to our teammates and clients, but also to our investors, who become an extension of our team. Frog’s similarity in values and culture, coupled with their breadth of vision, strategic experience and desire to contribute, made Frog an ideal investor and partner for Skimlinks.”
Iyad Omari, a partner at Frog Capital, commented: “Publishers are increasingly turning to content-led monetisation strategies for growth, as traditional digital display advertising rates continue to decline.
“With incredibly efficient technology and deep commerce insight, Skimlinks has become the go-to content monetisation partner for the world’s most prestigious digital publishers.”