South Korean gaming major Krafton has led a Series A funding round of $10 million in One Impression, a global influencer marketing platform, which aims to expand its global footprint this year, starting with South East Asia and the UAE.
The startup will utilise funds to also expand its offerings and accelerate product development.
With this investment, the startup aims to reach $40 million in annual recurring revenue (ARR) by 2024.
The platform transacts with tens of thousands of creators ranging from top celebrities to nano influencers, generating over 100,000 content pieces for more than 500 brands in over 10 languages.
"The ecosystem currently lacks a structured platform and our products will enable speed, scale, science, and reliability for all stakeholders in the industry, helping unlock the true power of this industry," said Apaksh Gupta, Founder and CEO of One Impression.
In the last round of seed funding in January 2022, the startup raised $1 million from top angel investors such as Peeyush Bansal (Founder Lenskart), Anupam Mittal (CEO, People Group), and celebrities such as Olympian Neeraj Chopra and comedian Zakir Khan.
"One Impression has an ambitious vision for the space, and we are delighted to support them in their journey," said Sean Hyunil Sohn, Krafton CEO India.
"The creator ecosystem is at the cusp of a revolution. It holds massive untapped potential, and we believe that One Impression is rightly positioned to be a global leader of the influencer industry," he added.
Krafton has invested around $100 million in various Indian start ups since 2021.
Founded by Apaksh and Jivesh Gupta in 2018, One Impression aims to double its team in key functions including sales, tech and creator supply by the end of FY 2023. 20230315-180202