SUMMARY
The AI-powered affliate marketing startup is in talks with new and existing investors to raise $10 Mn-$12 Mn in its Series B funding round
Flickstree is in talks with some VC firms from the UK, Japan, and Singapore to infuse capital in this round
Earlier this month, Japan’s ICMG Co-Creation Fund joined Flickstree’s cap table by infusing capital in its extended pre-Series B round
Mumbai-based AI-powered affiliate marketing startup Flickstree is in initial stages of discussion with investors to raise $10 Mn-$12 Mn in its Series B funding round.
The funding round will see participation from the startup’s existing investors, including Venture Catalysts, sources told Inc42.
Flickstree is also in talks with some new investors, including some VC firms from the UK, Japan, and Singapore, for the funding round, the sources added, without disclosing the names of the firms.
It is pertinent to mention that Japan’s ICMG Co-Creation Fund joined the startup’s cap table earlier this month by infusing capital in its extended pre-Series B round. The startup had announced the pre-Series B funding round in October 2022.
Flickstree is aiming to use the fresh funding to double down on artificial intelligence (AI) tools to help publishers publish better blogs and reach more users. It is also looking to add additional languages beyond English, including Japanese, to widen its reach.
A part of the fresh funds will be utilised to hire talent outside India, the sources said. “Flickstree already earns more than 90% of its revenue from outside India. It further wants to increase its employee count in Europe, Japan, and the US,” one of the sources said.
Founded in 2016 by Saurabh Singh, Rahul Jain, and Narendra Sangra, Flickstree’s AI-powered affiliate marketing platform helps brands increase their sales by bringing more users to them.
The startup also has a publisher tool, OneClick Publisher Suite, which helps them leverage technology to make affiliate marketing smarter. Flickstree currently works with about 500 publisher partners, who receive commissions for generating traffic to brand affiliate links, including lead generation and sales conversion.
The startup also has an in-house Data Management Platform (DMP) populated by 85 Mn users, taking into account critical data points (purchase history, location, brand loyalty and more) to identify prospects for targeted reach.
Flickstree closed FY24 with a topline of INR 70 Cr, a 75% increase from INR 40 Cr in the previous fiscal year.
The startup, which counts Samsung, Accretio Investments, and former cricketer Sourav Ganguly among its investors, competes against Commission Junction, Awin, Impact among others.
