The investment syndicate Adjuvo led the latest funding round for WeArisma, which measures the marketing power of online celebrities in fashion, beauty and travel.
There will be an announcement on Monday.
Jenny Tsai, chief executive officer and founder of WeArisma, said in an interview that the money would be put towards refining the sandstorm of data that lands on her staff's desks every day and ensuring that the business can interpret global trends in multiple languages.
New features will be introduced to the platform and the coverage of leading social channels will be increased. She wants brands to be able to make money in markets where consumer purchasing decisions are influenced by influential sources.
WeArisma will scale up its team and help clients understand the impact of influencer marketing.
Morgan Stanley invested in Adjuvo in order to help WeArisma grow. A total of 3.5 million pounds has been invested in WeArisma.
He has a background in media and finance. She started WeArisma to measure the publicity that brands and retailers get from third-party sources.
WeArisma uses proprietary technology to calculate the media impact value of brands and products when they appear on or are endorsed by an influential person.
Earned value is not well understood, but it plays a huge role these days because we all influence other people. Tsai insisted that brands need to know how effective they are being talked about, and recommended, by influential sources, because the purchasing journey is so fragmented.
Most people make purchasing decisions based on third-party content they are viewing, and yet most companies don't understand how their brand and products are performing on these third-party feeds. She said that the value of earned media is not well known.
WeArismaaggregates billions of different feeds and looks at the whole purchasing funnel in an effort to help clientsgenerate a better return on their investments.
To see how certain products and brands perform and why, the company analyses data on major worldwide events, such as the Met Gala.
When celebrities talk on social media about what they are wearing, engagement rates go up.
The Italian brand had a media value of $496,800, an engagement rate of 1,945.4 percent, and a reach of over one million thanks to a single quip from the singer.
The engagement value of Kate Middleton's white Alexander McQueen gown was $349,700 based on a single image from Time magazine.
The majority of WeArisma's research is kept private. It's delivered directly to clients so they can make decisions about how much money to invest in social media, and how to shape their images going forward.
Six years of historical data has been banked by WeArisma for 15,000 brands in more than 70 countries. The company needs to scale and her team needs to be better at using artificial intelligence.
She said that it is proving expensive to operate globally and that it is a large space.
Engineers and product teams are available to help interpret languages. People in China use a lot of nicknames. You have to keep track of all the nicknames as well. She said that the quality of data would help predict and understand this world.
Mark Foster-Brown, founder and CEO of Adjuvo, said the company invested because it's important for retailers and brands to assess the value and effectiveness of influencer marketing.
Adjuvo wants to help its founders and entrepreneurs, so in addition to this fundraise, which is supporting and strengthening the global capability of Jenny's team, we want to add value. It will promote entrepreneurship and job creation.
WeArisma has a high-quality data platform and insights that we have been impressed with. WeArisma has a data-driven approach that helps clients maximize their marketing spend. Jenny and the team have served some of the biggest brands in the world.