Following the news that Amazon could be hot on its tail, content monetisation platform Skimlinks has gained $16 million in Series-C funding.
Founded in 2006, the group, which generated $625 million in sales for retailers last year, has reaped investment from the likes of Bertelsmann Digital Media Investments, Sussex Place Ventures, Greycroft and Silicon Valley Bank. Frog Capital led the round, which follows a $4.5 million Series-B coup for Skimlinks back in 2011.
The event brings Skimlinks up to a total of $24 million in equity and will help the group fend off competition from Amazon, which recently launched an affiliate link service akin to the system offered by its would-be rival.
New competition
Skimlinks’ network in 2015 consists of 1.5 million publishers and apps, utilised by an ever-expanding pool of retailers. To date, the company has over 20,000 brands on board.
Publishers include Vox Media, Time Inc and Conde Nast, which use Skimlinks’ java script to transform regular product links included in their content into affiliate links. Sites can use the service to earn commission from retailers for every click or sale.
While the company was entering a relatively uncluttered marketplace upon its founding nine years ago, it wasn’t long until others started to take notice.
Skimlinks is now rivalled by Viglink – launched in 2009 – and PerformanceIN reported last week that Amazon had entered the field with an affiliate link service for its online marketplace.
Getting ahead
What the news of funding will give Skimlinks is the ability to build off a strong foundation. As Amazon tests the waters with a select group of publishers, those in charge of the purse strings at Skimlinks will be looking to expand the company in order to make it the number one solution for publishers wanting an easy introduction to affiliate marketing.
Iyad Omari, a partner at Frog Capital, is adamant of continued success for his company’s investment.
“Publishers are increasingly turning to content-led monetization strategies for growth, as traditional digital display advertising rates continue to decline.
“With incredibly efficient technology and deep commerce insight, Skimlinks has become the go-to content monetization partner for the world’s most prestigious digital publishers.”
Skimlinks grew its staff count by 40% last year and opened a second American office, in New York, to alleviate some of the pressure on its San Francisco base. Despite the growing demand for its services in the US, Skimlinks’ HQ remains in London.