The latest sign of influencer commerce heating up: Levanta just raised $22 million
Levanta cofounders Ian Brodie, Rob Schab, and Spencer McKenney.
Sydne Brodie.
Creator commerce platform Levanta has raised a $22 million Series B round.
The company aims to expand into more retail networks beyond Amazon, Walmart, and Shopify.
Competition is heating up in affiliate marketing, which is expected to drive over $200 billion in US sales this year.
Influencers are great at getting people to buy stuff.
Social-commerce startup Levanta wants to tap into that power of persuasion to boost sales for merchants on Amazon, Walmart, Shopify, and other retail sites.
The company closed a $22 million Series B round this week as it looks to expand its business beyond its three main partners and grow in international markets, Business Insider can exclusively reveal.
"We're investing really heavily in going past Amazon, so deepening our relationship with Walmart, with Shopify, but then also going even beyond that and acquiring additional marketplaces that we're going to bring into the fold," said Ian Brodie, Levanta's CEO and cofounder.
Levanta's core business is matching retail sellers with a network of creators to share product samples and offer sales commissions in exchange for promotional videos.
The company said it has over 90,000 vetted creators in its network.
The company pushes sellers to set affiliate rates in the 15% to 20% range, Brodie said.
It also helps partners with operational tasks like measuring performance, paying creators , automating tax forms, and setting up flat-rate brand deals with creators when it makes sense.
It makes money by charging sellers a flat fee to use its tech, while also taking a cut of sales its platform helps generate.
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