The Santa Monica-based software platform specializes in marketing campaigns to help influencers connect with global brands and agencies. The investment, announced Nov. 30, will accelerate Tagger’s global expansion to support more brands, agencies, media companies and creators in their influencer marketing efforts, as well as accelerate its innovative product development.
This latest raise comes after an initial $8.5 million raise from Five Elms in April and six months of consistent revenue-supported growth from the influencer marketing platform and category thought leader.
“Our strategy has always been to grow this company in a sustainable way that drives revenue for our investors and partners,” Dave Dickman, Tagger chief executive, said in a statement.
The company plays a significant role in the $20 billion influencer marketing space and saw more than 100% growth in both 2020 and 2021. It hopes the investment will rapidly increase its market share in the creator economy. It has recently added new offices and resellers in locations such as Japan, South Korea, Germany, Mexico and India, among others.
“We remain extremely excited about Tagger’s position in the growing influencer market space,” Ryan Mandl, partner at Five Elms Capital, said in a statement.
Kansas City, Mo.-based Five Elms is a global investor in high-growth business-
to-business software businesses, and provides capital and resources to help companies accelerate growth.