Affiliate Marketing Platform ShopMy, a platform that permits creators to streamline their internet online affiliate marketing and paid sponsorships efforts with brands that’s utilized by the likes of Gucci Westman and Olivia Palermo, has closed $8 million in Series A funding.

The round was led by Granite Telecom chief operating officer Rand Currier, in addition to a gaggle of personal investors including Justin Kan, the founding father of video livestreaming service Twitch, which he sold to Amazon in 2014.

ShopMy, formerly referred to as ShopMy Shelf, was founded in 2020 by Chris Tinsley, Harry Rein and Tiffany Lopinsky — a trio of technologists out of MIT and Harvard — to simplify the monetization process for creators who ceaselessly share their product recommendations over social media by offering access to commissionable products and using a data-driven approach to attach brands with creators.

The corporate has greater than 100,000 creators on the platform and projected revenues of around $10 million for 2022.

It began by focusing solely on beauty creators but more recently has expanded to numerous categories including fashion, wellness and nutrition, with beauty now accounting for about 65 percent of the business.

Creators on the platform include Palermo, Westman, Marianna Hewitt, Stephanie Shepherd, Dr. Shereene Idriss, Ash K Holm, Katie Jane Hughes, Sean Garrette, Dr. Simon Ourion and more. Brand and retail partners, meanwhile, include Westman’s Westman Atelier, Topicals, Tower 28, Tatcha, Dermstore, Nordstrom, Living Proof and Shopbop.

“The corporate really had its genesis at MIT where we were doing a whole lot of primary research on the creator economy and the results of our research was that there gave the impression to be an enormous swath of creators who were very enthusiastic about sharing their reputations on social media, but who selected to not utilize any type of performance marketing tools because they were so cumbersome and clunky to make use of,” ShopMy chief executive officer and cofounder Chris Tinsley said in an interview. “Our goal was to eliminate this friction and make it as easy as possible for a content creator to showcase their product recommendations over social media and achieve this in a way that they might monetize their content.”

Via the platform, creators can take part in collaborations and receive gifted products from any of the 200-plus brand partners, who pay a monthly subscription to ShopMy, while brands have access to creators’ performances, from clicks, engagement and orders to related data, for each product and brand they recommend.

The creators then earn a commission through an associates program, with brands offering between 10 to 40 percent commission rates on products sold through their shelf, a dedicated recommendations page. The monthly earning opportunity on the location for experts is $35,000, based on ShopMy.

In accordance with ShopMy, the Series A funding will allow the team to scale engineering product and design, construct a mobile app version of the platform and expand their VIP shop manager program.

Of the investment, Kan said: “I’m a robust believer that collaboration between content creators and types will define the subsequent decade of promoting and the ShopMy platform is essentially the most impressive platform I’ve seen within the space. Their thoughtful approach to the underlying data infrastructure and deal with user experience has really set them apart — I’m excited to be a component of it.”

Currier added: “Influencer marketing is considered one of the fastest-growing industries today and ShopMy has emerged on the forefront of firms leading the longer term of this space. With the number-one platform for product promotion on social and established relationships with over 40,000 brands, ShopMy unlocks a world of opportunity for content creators to monetize their popularity.”