One Impression will use the fresh capital to expand product offerings, accelerate product development and grow presence in international markets
The startup will also deploy capital to make acquisitions in India and abroad
Including the current fundraising, One Impression has raised $11 Mn funding from different investors
Influencer marketing startup One Impression has secured $10 Mn in a Series A funding round led by South Korea-based gaming giant KRAFTON Inc.
One Impression will use the fresh capital to expand product offerings, accelerate product development and grow presence in international markets spanning from Southeast Asia and the UAE. The startup will also use the funding to make acquisitions in India and abroad.
Including the current fundraising, One Impression has raised $11 Mn funding from different investors.
In a bid to accelerate the marketing campaigns of brands and help them connect as well as hire social media influencers faster, two brothers Apaksh Gupta and Jivesh Gupta founded a full-stack influencer marketing platform One Impression in 2018.
The Mumbai-based startup claims to be an alternative to pre-existing marketing agencies. It has built a network of social media influencers where brands can directly talk to content creators and even hire them within a few minutes.
“We truly believe that technology will bring the next phase of growth for the creator ecosystem. We are thrilled to join hands with KRAFTON in our growth journey. We believe that this partnership will help us accelerate our mission of being the global flag bearer of the creator economy. The ecosystem currently lacks a structured platform and our products will enable speed, scale, science, and reliability for all stakeholders in the industry, helping unlock the true power of this industry,” said Apaksh Gupta, founder and CEO of One Impression.
Speaking about the revenue model, Apaksh told Inc42 that the startup charges brands and content creators whenever they transact using One Impression’s platform. It takes a 10-15% fee from each transaction from brands when they hire creators using its platform. Likewise, the startup takes a 10% fee from content creators at the time of receiving payment from these companies.
At the moment, the startup reported to have an annualised revenue of $7 Mn. It further looks to grow its ARR to $40 Mn by 2024.
“The creator ecosystem is at the cusp of a revolution. It holds massive untapped potential, and we believe that One Impression is rightly positioned to be a global leader of the influencer industry. One Impression has an ambitious vision for the space, and we are delighted to support them in their journey,” said, Sean Hyunil Sohn, CEO of KRAFTON Inc.
One Impression claims to have onboarded more than 7 Mn influencers and also, serving over 500 brands across the globe. Some of its clients are Mamaearth, Amazon, HUL, Galderma, Meesho, and Kama Ayurveda.
It counts Peyush Bansal (Founder of Lenskart), Anupam Mittal (CEO of People Group), Olympian Neeraj Chopra, DML Capital, fashion influencer Massom Minawala, Comedian Zakir Khan and founders of Shiprocket as its investors.
In India, it competes with the likes of Kofluence, Adicube and My Haul Store.
As per a GroupM INCA report, the Indian influencer marketing industry was anticipated to grow to INR 900 Cr by 2021. It has also estimated that this segment will grow to INR 2,200 Cr, expanding at a CAGR of 25% by 2025.
