ShopMy, a marketing platform for creators, has announced that it’s raised $18.5 million to scale its network of 40,000 creators.
The platform provides creators with everything they need to monetize content through product recommendations, including a product catalog, commissionable links, direct lines of communication with brands via the mobile app, and digital storefronts.
The company told TechCrunch that, to date, creators have earned “tens of millions in commissions” on the platform. In a bid to discover talent and build their marketing campaigns, more than 1,000 companies have become part of ShopMy’s network. Some of the platform’s biggest clients include Nike, Chanel, NET-A-PORTER, Drunk Elephant and Tatcha.
Founded in 2020, ShopMy is the brainchild of three co-founders: Tiffany Lopinsky, Harry Rein, and Chris Tinsley. In an interview with TechCrunch, Rein said that the idea came about when Tinsley was studying the creator economy in college.
“He observed a significant disconnect in the social media ecosystem: Influencers struggled to monetize their product recommendations effectively, and their followers didn’t have an easy path to purchase,” he said. “Chris viewed ShopMy as the solution, a bridge that transformed how influencers share and monetize their product recommendations.”
Brands pay a starting subscription of $999, with the number increasing depending on how many advanced features the brand wants. ShopMy also disclosed that they take a “small” cut of the creators’ commission, but didn’t disclose exactly how much it was.
