ShopMy Raises $77.5 Million to Innovate Creator Marketing with Performance-First Strategy

ShopMy's Groundbreaking Funding

In a significant move for the creator marketing landscape, ShopMy has secured $77.5 million in a Series B funding round, spearheaded by renowned investors including Bessemer Venture Partners and Bain Capital Ventures. Joining them are Menlo Ventures and existing backers like Inspired Capital and AlleyCorp. This investment follows notable achievements by ShopMy, including reaching profitability and introducing pioneering innovations within the industry.

Transforming Creator Marketing

ShopMy is leading the charge in redefining how creator marketing functions. By converting what was once seen as an intangible asset into a quantifiable performance channel, the platform is revolutionizing how brands interact with content creators. Equipped with capabilities similar to those previously exclusive to paid search and social media, ShopMy is pushing the boundaries on creator collaborations.

One standout feature, Lookbooks, automates product gifting and has been utilized over 190,000 times, streamlining gifting processes while drastically minimizing waste. Another innovative tool, Opportunities, empowers brands to intelligently allocate budgets and ensure creator coverage. In less than six months, this approach has facilitated the generation of approximately 16,000 pieces of creator content, amassing over 125 million views.

With over $352 million in brand sales reported and a remarkable average return of 5x on investment, ShopMy’s model illustrates just how impactful creator partnerships can be when aligned with performance-driven strategies.

As per Harry Rein, co-founder and CEO of ShopMy, “By merging the authenticity of creator-generated content with the accuracy of performance marketing, we’re enabling brands to foster transforming partnerships into scalable performance engines.” This latest funding round will enable ShopMy to enhance its team and expand its offerings into new sectors such as health and wellness, hospitality, and family-oriented markets, while still strengthening its standing in the fashion and beauty industries.

Leading Brands Trust ShopMy

A plethora of premium brands, including Lululemon, Nordstrom, and Dior, have already recognized the value that ShopMy brings to the table in driving measurable outcomes. Currently, more than 50,000 brands are available for commission through the platform, with over 550 relying on ShopMy’s unique technology to transform traditional collaborations into robust performance marketing pathways.

Jeremy Levine from Bessemer remarked on ShopMy’s advancements, stating, “They’ve cracked the code on scaling genuine influence. By reinventing trusted recommendations into measurable performance marketing, they’re forging an entirely new commercial approach.”

What Lies Ahead

As ShopMy gears up for its next chapter, it’s poised to redefine creator marketing further, positioning itself as a front-runner in the industry. Their strategic use of advanced tools like Lookbooks and Opportunities exemplifies a pioneering spirit aimed at seamlessly connecting brands and influential creators. With eyes set on global expansion beyond just fashion and beauty, ShopMy is committed to changing how authentic recommendations drive genuine performance marketing.

This new funding marks not just a milestone in ShopMy's journey but also signals a pivotal moment in the creator economy, where authenticity meets performance in an unprecedented fashion.