One-stop docking + KOL management, smart brand marketing service platform Grin received US$16 million in Series A financing

One-stop docking + KOL management, smart brand marketing service platform Grin received US$16 million in Series A financing

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According to foreign media Crunchbase, after announcing a $10 million Series A financing five months ago, KOL marketing software developer Grin recently received a new $16 million Series A financing. This round of financing was led by Imaginary Ventures, followed by Good Friends Venture Capital. Since its establishment, Grin has completed a total of 35.3 million US dollars in financing.

Grin was established in California in 2014. It is a one-stop service platform that helps brands manage KOL operations. It integrates functions such as finding and docking KOLs, sending products, paying creators, and evaluating delivery effects.

The founder of Grin believes that consumer behavior is shifting from being more influenced by television and radio to the trend of social media. According to conservative estimates by industry insiders, the social media marketing market will reach $13.8 billion this year. Whether foreign or domestic, the full-scale explosion of the Internet celebrity ecosystem has made Internet starmaking a reality within reach.

What follows is a new business opportunity for the brand: Internet celebrities have lower marketing costs than celebrities, and the user trust accumulated by the Internet celebrities themselves can also well endorse the brand.Domestically, most brands seek cooperation through PR point-to-point contact with Internet celebrities or MCN agencies. Not only is time and manpower consumption high, the behavior of a single PR will also affect the direction of cooperation.

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Grin’s operational services cover the entire process of KOL promotion. In the stage of helping brands to screen partners, Grin’s system will analyze the influence of KOLs and the authenticity of traffic, and give a fan portrait report to compare with brand positioning. If the brand has a regular KOL, Grin will automatically locate similar candidates based on his/her audience, participation, coverage and other parameters. Grin also customizes full-platform outreach templates for brands to facilitate access to Internet celebrities from all dimensions.

After determining the candidate for cooperation, the brand can import the products that need to be promoted on the system and let the KOL select according to their own characteristics. Grin also covers transportation services and can cover the entire process from delivery to delivery tracking. Once the KOL completes the content production and is certified, the brand can make large-scale payments through the PayPal section integrated on the Grin platform.

Grin’s barrier is also its ability to replay data backed by data.

By analyzing the funnel from pageviews, click-through rate to conversion rate, Grin can automatically analyze marketing effects, and the scope of data covers all platforms. In terms of economic benefits, Grin will calculate the promotion rate of return for each KOL based on budget, actual expenditures, and expected benefits, and save historical data in the system for the brand’s decision-making reference.

Several domestic companies are exploring similar paths. Xinzhan and Huahuo platforms are backed by station B. The former focuses on data analysis, while the latter aims to connect the two parties’ commercial cooperation. Soxiu data relies on Xiaohongshu, and its functions are similar to those of the new site. The giant star map under Douyin is one of the few one-stop service platforms.Difficulties in accessing data among various social media and narrow coverage of services provided have become shortcomings of similar domestic platforms.

Grin currently does not disclose revenue and user scale.But the company’s founder said that Grin outperformed most of its peers, andAt present, the biggest obstacle facing Grin does not come from the industry, but from the brands that are slow in digital transformation.

Grin plans to use the new financing to expand the team. In the long term, Grin intends to penetrate the platform services to the KOL side so that it can manage the promotion business.

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