Modash Expands Internationally with $12M Series A
Deal News | Oct 31, 2024 | Change Ventures GmbH
Change Ventures has announced its latest investment in Modash, a creator economy infrastructure startup, as part of a $12M Series A funding round. Modash focuses on using data and technology rather than the traditional agency model to innovate within the influencer market, which is anticipated to grow to a $35 billion industry by 2024. Having quadrupled its revenue since Change Ventures' original seed round investment in 2022, Modash has announced plans to open a new headquarters in Toronto to better serve its growing North American customer base. This strategic move highlights Modash's commitment to international expansion and its vision to become a pivotal player in the influencer ecosystem.
Sectors
- Influencer Marketing
- Technology
- Venture Capital
Geography
- Canada – Modash is opening a new headquarters in Toronto, reflecting its expansion into the North American market.
- Estonia – Change Ventures GmbH, the PE firm backing Modash, is based in Estonia.
Industry
- Influencer Marketing – The article focuses on Modash, a company innovating within the influencer marketing industry, which is projected to grow significantly by 2024.
- Technology – Modash's emphasis on data and technology differentiates it from traditional agency models within the influencer market.
- Venture Capital – Change Ventures and HenQ's involvement in funding Modash highlights significant activity within the venture capital sector.
Financials
- $12M – Amount raised by Modash in its Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Modash | Target company | Company | A creator economy infrastructure startup focusing on influencer marketing. |
| Change Ventures GmbH | Investor | Company | A venture capital firm that initially backed Modash in 2022 and continues to support its growth. |
| Avery Schrader | Founder | Person | Founder of Modash, recognized for his commitment to a data-driven approach in the influencer space. |
| HenQ | Investor | Company | The investor leading the $12M Series A funding round for Modash. |