Amid the ever-evolving landscape of digital marketing, affiliate marketing stands as a testament to creativity and adaptability. But today, there’s a new player looking to shake things up—ShopMy. This rising startup isn’t just dipping its toes into influencer monetization; it’s making waves, positioning itself as the premiere platform for brands and creators alike. With a recent $77.5 million funding boost, ShopMy is not merely a fleeting trend; it’s a burgeoning force that’s rapidly expanding into new territories and categories. As its revenue skyrockets by an astonishing 650% in 2024, I can’t help but wonder—could we be standing on the brink of a new era in influencer marketing, one that redefines how creators collaborate with brands? Dive into the details of ShopMy’s journey and future ambitions in this article! LEARN MORE
Affiliate marketing is nothing new, but a rising startup in the space, ShopMy, is angling to be the go-to platform for brands and creators, when it comes to influencer monetization.
In January, ShopMy announced it had raised $77.5 million for its Series B led by Bessemer Venture Partners and Bain Capital Ventures. The startup previously raised $18.5 million a year ago in March. ShopMy is scaling rapidly, attracting more brands and expanding into new categories and geographies.
ShopMy’s latest funding round followed several other significant milestones. In 2024, ShopMy’s revenue surged 650%, a company spokesperson told Modern Retail. It represents a meteoric rise for ShopMy, which according to the Information, brought in just $4 million in revenue 2023. Applications from brands vying to partner with ShopMy also climbed 244% in 2024 from the year before. And the company reached profitability for the first time in September of last year.
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