TapInfluence raises $5 million in capital
Last Updated: 15:20 September 10, 2013
The latest round of funding for the Boulder-based firm came from Grotech Ventures, with offices in Denver, and Boulder-based Access Venture Partners, a new investor. The funding will be used to boost the company’s engineering and marketing staff, according to a press release.
In addition, TapInfluence has created a marketplace of 100,000 bloggers who write posts online about client companies, said Holly Hamann, a co-founder of the company. The company counts RedBox, Microsoft and Jergens among its client brands, according to its website.
“Influencer marketing” as it is called in the industry, is rising in popularity, with bloggers working as “influencers” in writing paid content, Hamann said. TapInfluence software helps quantify how well the blog posts are working on a variety of social media sites, including Facebook.
“Brands are realizing that the (Internet banner) advertising model doesn’t work. Times have changed,” Hamann said. “It’s not just a message and controlling the message, it’s what kind of brands do people like me want.”
The company has 40 employees working in offices in Boulder and in New York City. Customers have included media companies such as ABC News; Meredith Corp., publisher of magazine titles; and Ogilvy & Mather, a national advertising agency.
The company started as BlogFrog Inc. in 2009 as a network of bloggers that grew to reach an estimated more than 5 million female consumers online, the company has said.
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