Naritiv, the marketing platform that connects Snapchat influencers with advertisers, announced a $3m Series A funding round led by Third Wave Digital. Among its investors are Disney, Luminari Capital, Deluxe Entertainment, Wavemaker Partners and Matthew Anderson, CMO of Roku.
Essentially, Naritiv does on Snapchat what marketers have done on YouTube for a while now: connect advertisers with successful YouTube channel creators (influencers in Snapchat’s case). This helps marketers and brands reach hundreds of thousands of people in a way that may be perceived less intrusive, since the recommendation for a product or service is coming directly from the influencer.
Naritiv has a network of over 300 Snapchat influencers, whose posts receive around 16bn views per month. Some influencers can earn up to $10,000 per month collaborating with brands such as ABC Family, Coca Cola or Fox.
Snapchat influencer Mike Platco promoting the new Star Wars toy
Influencers on Snapchat generally explain that they are about to test a product someone has paid them to try out. They invite fans to follow the brand’s Snapchat account for more information. Naritiv tracks each post and analyses the viewership.
One of its success stories is an influencer campaign for ABC Family’s show ‘Pretty Little Liars’. Naritiv took over ABC Family’s Snapchat channel for the series and enlisted influencer Mike Platco to create content. Driving awareness to the series’ channels, it quickly collected 1.3m followers within half a year in 2015.
Daniel Altmann, Co-founder and CEO, Naritiv, explains:
“Brands really see that if they can reach and influence customers at an earlier stage, they can really be more important to them when they’re deciding what hotel to book and deciding what car to buy. If they can be that brand for them in an authentic way earlier, that’s really important to them.”