Influencer marketing platform CreatorIQ acquires Tribe Dynamics
CreatorIQ has taken steps to further cement its future in the influencer marketing world with its acquisition of Tribe Dynamics.
CreatorIQ has already made an impact on the world of influencer marketing. It has connected content creators and big businesses like Disney, Amazon, and Mattel with the use of its Creator Intelligence Cloud, helping brands experience increases in sales. But CreatorIQ is about to leave an even bigger mark on the industry with its recent acquisition of the analytics platform Tribe Dynamics.
According to a press release, this move solidifies CreatorIQ as the “largest influencer marketing SaaS platform in terms of revenue, growth, data authority, and global expansion with over 450 customers, 250 employees, and $90 million in funding.”
CreatorIQ founder and CEO Igor Vaks explained that the company is “thrilled” to be adding Tribe Dynamics into the fold and noted that CreatorIQ will be further concentrating on data science going forward.
“Applying Tribe Dynamics’ proprietary models, which are the standard in the beauty [and] fashion industries, to additional verticals will allow us to offer analytics and measurement benchmarks for the entire industry. This partnership raises the bar for what leaders should expect from an influencer marketing platform.”
What to Know About CreatorIQ
CreatorIQ was founded in 2014, with the goal of assisting brands with their influencer marketing strategies. As noted on the company’s website, its Creator Intelligence Cloud “enables intelligent creator discovery, streamlines end-to-end workflows, and drives meaningful measurement.” This allows the brands they work with to make the appropriate moves to ultimately increase conversions by working with the right content creators for their campaigns.
As previously mentioned, CreatorIQ has worked with brands like Disney, Amazon, and Mattel, as well as CVS, Airbnb, Calvin Klein, H&M, Sephora, and Unilever.
What Does Tribe Dynamics Do?
Tribe Dynamics, founded by Conor Begley and Jonathan Namnath, is a platform that offers companies a way to measure how their influencer marketing tactics perform. With this information, brands gain insight into what influencers would work well for their industries and develop effective strategies to increase profits. Notably, Tribe Dynamics has worked with beauty brands like Sephora, Colourpop, and Drunk Elephant, as well as with fashion brands, including Fashion Nova, Gucci, and Burberry.
When it was being acquired by CreatorIQ, Tribe Dynamics had been growing quickly “with new bookings growing over 100% YoY [Year Over Year] with a 110% net retention rate in the first half of 2021.” Despite the fact that it will be owned by CreatorIQ after the acquisition is finalized in the fall of 2021, Tribe Dynamics will “operate as an independent company.”
Regarding CreatorIQ’s acquisition, Tribe Dynamics president Conor Begley has said:
“This is a big deal. Tribe Dynamics coming together with CreatorIQ is more than just two influencer marketing leaders joining forces with complementary strengths. It’s a profound opportunity to create standards for the entire influencer marketing sector and represents a multi-billion dollar market opportunity. Together, we will represent the unquestioned leader in the market and we are committed to serving the needs of brands across the globe as they invest in influencer marketing.”
Creator IQ Recently Received Funding
Recently, CreatorIQ received $40 million in funding from investors TVC Capital, Kayne Partners Fund, Kayne Anderson Capital Advisors, Affinity Group, Unilever Ventures, and Silver Lake Waterman. With the addition of the $40 million, which was announced in mid-September 2021, the Los Angeles-based company reportedly has raised over $80 million in capital.
In a press release announcing the funding, CreatorIQ revealed that it would use the money to further develop its Creator Intelligence Cloud software while concentrating on e-commerce and measurement, specifically.
Igor Vaks, the founder of Creator IQ, shared:
“From high-growth brands to Fortune 500 companies, our customers rely on creator partnerships to grow their businesses — from building brand loyalty to co-launching new e-commerce solutions together. This new funding will allow CreatorIQ to invest in our data, commerce, and measurement technologies to better solve customer outcomes.”