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Influencer platform Tribe eyes Singapore launch after $5m capital raising

TribeAustralia-based influencer marketing technology platform Tribe is eyeing international expansion after a $5.4m round of capital raising from investors, with Singapore likely to be the first port of call.

The company, founded by TV and radio personality Jules Lund, is likely to launch early next year, chief executive Anthony Svirskis has said.

Svirskis said Tribe employed Bain & Company to analyse several key metrics in each market, including social media spend, growth potential, ease of conducting business and the competitive landscape.

Tribe has worked with more than 500 brands since launch and has more than 4500 influencers on its books, according to Svirskis.

“We don’t want very mature markets, so the US would probably be out, but neither do we want a state of zero competition,” he said.

“Competition creates an infrastructure and market education, so if a market has early stage players we won’t discount that.”

He identified parts of Asia – Singapore, in particular – some European markets and Latin America as markets that could work.

“Timing is critical in that it’s such a fast moving space, so we wanted to be sure we have the opportunity to capitalise on the strong, early traction in Australia and take our product to new markets,” he said.

“We’ll get a list of the top 10 or 20 markets and within the next month we’ll have a really good road map and be looking to be up and running in new markets by early 2017.

“It might be staged so we might start with one and then move into others, but the idea behind this capital raising is to be in more than two markets. We want to be in three different markets, three different regions, with the ability to spread beyond that.

“Because of the product we have built we already deal with international clients and influencers, the platform can be used widely and not constricted by the boundaries of Australia.”

The capital raising, which brings the total investment in Tribe to $8m, was handled by Sydney venture capital fund Exto Partners while existing investors and wealthy individuals have also come on board.

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