Influence, a NYC-based provider of a platform for venture investing, raised US $20.8M in Seed funding.
The round was led by Alpha Praetorian Capital, with participation from The London Fund, ACME Innovation, Reeve Collins, Al Kahn, and others.
The company intends to use the funds to expand operations and its business reach.
Led by Ashesh Shah, Founder and CEO, Influence enables a new form of venture capital by using AI-based tech to transform traditional and social media into an investable medium called INFLUENCE®. Its first products are focused on how creators and brands collaborate by intertwining influencer marketing with venture capital through its AI-driven Echo Chamber media channel. By layering in a persona-based targeting system, the AI coordinates investor-creator-led conversations to best sequence their branded posts, likes, and comments to create the most resonate and viral marketing. This approach allows investor-creators to engage their audience with conversational authenticity, moving away from promotional content while preserving brand integrity.
The company’s tech powers The London Fund’s initial US $250m creator domain by transforming the audience of +200 power influencers (those with over 1 million social media followers) into advertising inventory. Their inventory of +100 billion potential impressions is invested into founders and high-growth B2B2C and B2C companies, enabling influencers to become owners. They become investor-creators.
The London Fund, which has invested tens of millions of dollars across various companies including Hulah, Elo Health, Beatchain, Price.com, Honeydrop, and Dollar Donation Club, expects to use Influence tech to create global domains targeting US $500m by the end of 2024.
Influence will help funds scale operations through its tech by simplifying portfolio management, LP communication, and regulatory compliance.
FinSMEs
08/11/2023