LA is an influencer’s paradise, so it makes sense that a variety of startups are popping up in the area to serve the needs of these digital celebrities. LA-based startup Snipfeed, for example, acts as a one-stop monetization platform for creators of all kinds. On Thursday, the company announced the arrival of $5.5 million in seed funding to accelerate its growth.
Snipfeed is more than just your average link-in-bio service. The links offered by the platform enable followers to purchase exclusive content, livestream tickets, merchandise and more from their favorite influencers. Content consumers can do all of this without leaving the comfort of whatever app they’re using.
Snipfeed’s links also include built-in analytics so that influencers can better understand and engage with their audience.
“Although the creator market is burgeoning, only the most popular creators are able to make a comfortable living from their craft.” Redouane Ramdani, co-founder and CEO of Snipfeed, said in a statement. “Most aspiring creators are required to look for other ways to earn an income.”
The gap between creator communities has widened following the onset of the pandemic, according to Ramdani.
Top influencers are increasingly moving beyond sponsored content and instead are choosing to explore alternative revenue streams. These kinds of transitions, while lucrative for those with large followings, continue to be much harder to execute for micro-influencers, Ramdani continued.
Snipfeed was founded to solve this problem and expand access to monetization tools for influencers with smaller audiences.
“The longevity of the creator economy hinges on advancing the monetization tools available for the long tail of creators. Snipfeed exists to see the success of this economy so that more people can enrich their lives by doing what gives them purpose,” Ramdani continued.
Snipfeed plans to use the additional capital to expand its team as well as the range of features it offers on its platform.
In the coming months, Snipfeed plans to introduce its Brand Deal tool, which will allow creators to manage their payments and deliverables directly through Snipfeed. The company plans to use AI to directly match creators with brands they might be interested in.
Charles River Ventures and Abstract Ventures participated in the round, among others.
