Berlin-based Brandnew, which connects “top influencers” on Instagram, Facebook, Pinterest to deliver native ads, announces that they have obtained $1.1 million in a grant from the city of Berlin and $845K from a network of investors that includes PubliGroupe, Berlin Ventures, and Lukas Kircher.
The company says that this funding will be directed towards developing their technology, implementing new market strategies, and developing new brand partnerships. Brandnew already partners with companies like Coca Cola, Adidas, Ford, L’Oreal, and Uber and says that they current have more than 800 profiles in their “influencer network.”
Similar to paid tweets, Brandnew allows popular posters on Pinterest, Facebook, Instagram to cash in on their popularity by earning money from participating in ad campaigns. For both influencers and advertisers, the company offers data to allow them to track and manage campaigns. Brandnew says that they will soon unveil a tool that will allow brands to search through their network of influencers based upon specific targeting criteria.
The city of Berlin offered the grant through their Program for the Promotion of Research, Innovation, and Technology, which provides funding for innovative science and technology companies that will boost the local economy.