On March 15, One Impression, an influencer marketing platform, announced they had successfully secured $10 million in a Series A funding round with Krafton (a South Korean gaming company) as the major investor. The company previously raised $1 million in seed funding from angel investors and celebrities in January 2022. One Impression plans to use the funds to expand its presence in international markets and invest in product development to expand its offerings. The company’s sales and marketing initiatives will also receive funding.
Apaksh Gupta, One Impression’s CEO, stated that until now, the company had relied solely on organic growth and had not invested in marketing. However, with the company’s product now mature, it plans to invest aggressively in sales and marketing. Gupta also said that the company would consider acquiring smaller companies in the same field in both Indian and international markets to expand into new markets more quickly.
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One Impression was founded by brothers Apaksh and Jivesh Gupta in 2018. The company provides brands access to relevant creators from over seven million creators worldwide, from top celebrities to nano influencers, to drive growth with influencer-led initiatives. One Impression also assists brands with creator pricing, campaign delivery, and real-time tracking of campaign performance. The company aims to build a full-stack influencer marketing platform that will help businesses plan and execute their influencer campaigns at scale.
One Impression currently supports YouTube and Instagram and plans to integrate platforms such as LinkedIn in the future. The company claims that it transacts with tens of thousands of creators generating over 100,000 content pieces for more than 500 brands in over 10 languages. The company’s clients include Unilever, Amazon, Meesho, Myntra, Mamaearth, Zomato, and Cetaphil. One Impression aims to reach $40 million in annual recurring revenue by 2024.
Krafton, the maker of popular games such as PlayerUnknown’s Battlegrounds and Battlegrounds Mobile India, has invested approximately $100 million in Indian startups since 2021. Its investments include mobile game development studios, game streaming platforms, esports firms, Indian language storytelling platforms, and audio content and discovery startups.
Krafton India CEO Sean Hyunil Sohn stated that One Impression is positioned to be a global leader of the influencer industry and that Krafton is delighted to support the company’s ambitious vision for the space. This marks Krafton’s first fresh investment in an Indian startup after BGMI was pulled out of Google Play Store and Apple App Store in July 2022 following an interim government order.
The investment in One Impression signifies a spike in investor interest in the creator economy, which is at the cusp of a revolution, according to Gupta. The industry lacks a structured platform, and One Impression’s products will enable speed, scale, science, and reliability for all stakeholders.
