Affable AI funding

affable ai funding

Singapore-based martech startup, Affable.ai announced that it has raised $2 million from Prime Venture Partners, Decacorn Capital, and SGInnovate. Affable intends to utilize the freshly raised funds to expand into international markets such as the US.

With the latest funding, Affable has raised $2.8 million from Prime Venture Partners, Decacorn Capital, SGInnovate, Entrepreneur First, and strategic angel investors. Headquartered in Singapore, the startup has 20 employees working remotely across different geographies. 

Commenting on the development, Nisarg Shah, CEO and Co-founder, Affable.ai said, “We see a huge opportunity in working with brands to enable the much needed, data-driven influencer marketing campaigns. The industry-leading brands and agencies we work with reinforce our belief in the need for analytics to streamline the micro-influencer marketing process.”

“Prime brings a depth of experience in scaling global SaaS companies, operational expertise, as well as a strong network that we can leverage during our growth phase and we are very excited to partner with them. At the same time, participation from our existing investors is a great endorsement for us,” he added. 

Established in 2017 by Nisarg and Swayam Narain, Affable helps brands and agencies streamline their influencer strategies during the planning, discovery, activation, and reporting stages.

Shripati Acharya, Managing Partner, Prime Venture Partners stated, “Data-driven analytics is the need of the hour in the influencer marketing ecosystem, which is a new and upcoming marketing channel and has picked up steam in the last three to five years. We believe that influencer marketing will become a mainstream marketing channel for brands with a significant budget allocation.”

He explained, Affable’s tech differentiation will revolutionize the way brands and agencies communicate with micro-influencers and celebrities, ensuring they get maximum RoI from their marketing campaigns. 

The statement issued by Prime Venture Parters added that as Southeast Asia is a mobile-first region with its young demography and rising popularity of social platforms, it has become a perfect space for influencer marketing to prosper, and the market is expected to reach $2.59 billion by 2024.

The platform identifies fake followers, recognizes follower interests, and distinguishes social media users based on brands, fan pages, etc. It lists all the social media users and identifies potential influencers that a brand could work with.

Speaking about the investment, Debneel Mukherjee, Managing Partner, Decacorn Capital said, “As the lead investor in Affable’s seed round, Decacorn believes that “prime-time” has arrived in the AI-driven influencer marketing space to effectively monetize the hyper social behavioral changes in the post-millennials. We are glad to have worked closely with the Affable team over these past two years in scaling their business from a product-market fit stage to a rapidly growing six-digit MRR as of date. To help Affable scale beyond Asia into the holy grail of the USA we have ponied up in Affable to the fullest extent.”

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