The Spanish startup SamyRoad, which created a technological platform that identifies profiles of influencers for major brands, has closed a financing round of €1.4 million. This round was led by the Inveready Technology Investment Group and Sabadell Venture Capital funds. The fresh capital will be used for the expansion of SamyRoad in Latin America and Europe.
Founded in 2013, SamyRoad has established itself as the tool for brands to identify the best influencers and for the production of qualitative content. The Madrid based startup is working with a community with more than 25,000 creators and influencers from around the world. Still growing fast, SamyRoad reached a positive EBITDA in 2017, while executing the international expansion plan towards Latin America and Portugal.
Patricia Ratia, co-founder and financial director of SamyRoad, stated: “This injection of capital reinforces our expansion plan for the coming months and in this sense, Argentina and Brazil will be our main objectives in Latin America and France in Europe. We are very pleased to have closed this round with such success through these two funds. This is going to suppose the definitive impulse for our strategic growth plan.”
Wihtin just 5 years this Spanish company, founded by three young influencer marketing passionates, has reached 26 markets, and currently, has offices in Madrid, New York, Lisbon and Mexico. During this period, SamyRoad has made 270 campaigns for 75 brands from around the world.
This round of financing joins the €3 million that the startup had previously received from private investors, such as the Bulgari family, institutions such as Caixa Capital Risc and business angels such as Jesús Olmos, former partner co-director of infrastructure investments in Kohlberg Kravis Roberts (“KKR”). In addition, SamyRoad has obtained funds from the European Union through the CDTI to invest in the development of its already famous algorithm.
SamyRoad currently works in 12 different industries: food & beverages, alcohol, banking & services, beauty, entertainment, luxury, fashion, motor, fragrances, solidarity, technology and travel. Throughout 2017, SamyRoad has premiered in some verticals such as the motor or tourism industry and carried out solidarity campaigns.
SamyRoad has established itself in the luxury and beauty industry and proof of these are its recent campaigns for Loewe, Cartier L’Oreal, Estee Lauder, Clarins, Avon or Natura Bisse. SamyRoad expects to double its turnover in 2018, driven by its international expansion plan.