CreatorIQ, which just put the finishing touches on a $40 million fundraising round, quickly found a way to spend some of its new cash, buying Tribe Dynamics, a performance management and analytics company whose offerings complement its own.
The combined organization creates a SaaS platform focused on tracking, measuring and managing influencer marketing deals, with 450 customers, 250 employees and $90 million in venture funding. One focus has been on trying to develop industry-wide standards for metrics and more in a sector that has grown quickly, especially during the pandemic, in a wildly decentralized way.
“With this union, CreatorIQ is accelerating our focus on advanced data science and analytics,” said CreatorIQ founder and CEO Igor Vaks. “Applying Tribe Dynamics’ proprietary models, which are the standard in the beauty & fashion industries, to additional verticals will allow us to offer analytics and measurement benchmarks for the entire industry. This partnership raises the bar for what leaders should expect from an influencer marketing platform.”
CreatorIQ clients include AB InBev, Disney, Sephora, and Unilever. Tribe Dynamics clients for its analytics and benchmark solutions include Estee Lauder, Fashion Nova, and LVMH.
Tribe Dynamics President Conor Begley called the acquisition “a big deal. It’s a profound opportunity to create standards for the entire influencer marketing sector and represents a multi-billion dollar market opportunity.”
CreatorIQ just wrapped up what Vaks called a “Series C-2” round of $40 million, mostly consisting of previous investors including the venture fund for Unilever. Silver Lake Waterman was a new addition to the company’s backers.
Terms of the deal were not disclosed, but according to sources familiar with the transaction, the acquisition price was in the $70 million range. The deal is expected to close this fall. Tribe Dynamics will continue to operate as an independent company “for the foreseeable future.”
