ShopMy, a tech startup focused on influencer marketing, has raised $77.5 million in a Series B funding round, co-led by Bessemer Venture Partners and Bain Capital Ventures. The latest investment pushes the company’s valuation to $410 million, up from $80 million just a few months ago in March 2024. Along with the primary investors, the round also saw participation from Menlo Ventures, Inspired Capital, AlleyCorp, and well-known personalities such as YouTube influencer Camila Coelho and social media stars Jett and Campbell “Pookie” Puckett.
The funding round comes amid a surge of investment into influencer marketing platforms, with industry projections from eMarketer forecasting a 14.2% year-on-year increase in influencer marketing spending in 2025, outpacing growth in both digital and social media advertising.
ShopMy provides a range of tools for advertisers, including solutions to streamline gifting programs, identify niche micro-influencers, and create commerce links that influencers can share with their followers. Influencers earn commissions based on purchases made through their shared links, while brands use these links to track sales and monitor the effectiveness of their campaigns. ShopMy earns revenue through subscription fees charged to advertisers and a percentage of the sales generated via its platform.
Chris Erwin, founder of RockWater, a creator economy consultancy, noted that platforms like ShopMy are gaining momentum because they offer advertisers a way to measure the return on investment more precisely, converting awareness-driven campaigns into tangible sales. “Affiliate commerce, where influencers drive actual sales through shoppable links, has become a compelling proposition for brands,” Erwin explained.
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Founded just four years ago, ShopMy now counts over 550 brands and 100,000 creators as part of its growing network. The platform has taken active steps to attract influencers, including a high-profile marketing campaign that featured a poster drive and a party at New York Fashion Week’s exclusive Zero Bond venue last September.
As competition in the social commerce industry intensifies, ShopMy faces challenges from rival platforms like Mavely, which was acquired by Later for $250 million, and LTK, which has had its own legal skirmishes with ShopMy. LTK previously sued ShopMy over allegations of false advertising and trademark infringement, though the lawsuit was dropped after ShopMy ceased the contentious ads.
Currently focused on sectors such as beauty, fashion, and skincare, ShopMy plans to use its new funding to branch out into other advertising categories, including wellness, maternity, food, and family products. The company is also eyeing international expansion.
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With AI technologies starting to infiltrate traditional advertising, ShopMy’s founders, including Harry Rein, Tiffany Lopinsky, and Chris Tinsley, believe that influencer marketing’s human-centered approach will become even more valuable. “As AI starts to shape advertising in new ways, the power of human recommendations and connections will only grow stronger,” said Rein. “We believe this shift will position us to become a major player in the industry.”
