Israeli martech startup Humanz has raised $3 million to develop its AI platform that evaluates social media influencers and confirms their, well, influence. The seed funding came from private investors, with NGN Partners and Buffett Group leading the round. The company also received a $1 million grant from the Israeli Chief Scientist. The Tel Aviv startup maintains that while influencer marketing is one of the most cost-effective forms of customer acquisition, marketing teams are hamstrung by unreliable data, fraud concerns and difficulties in tracking ROI.
To help marketing teams avoid getting "catfished" by would-be influencers, Humanz collects its own data about social media impressions by analysing ‘billions’ of content pieces and profiles, identifying true tastemakers and fake followers. The platform is unique for this proprietary dataset; it’s independent of any APIs.
Beyond that, both marketers and influencers benefit from transparent data, insights and collaboration tools built into the platform. Despite the modest funding round, the company has already reached impressive heights since it launched in 2018. Global corporations such as McDonalds, Zara, L’Oréal and Nestlé are using the service, and the Israeli business has operations in South Africa, Turkey, Nigeria, Brazil, and the UK, with the US market coming soon. Other European influencer marketing platforms that have been funded in the last few years include Finland’s Boksi, French marketplace Octoly, Norway’s inzpire.me and most recently, the UK’s AGORA.