MikMak has successfully raised $3.2 million in a single funding round, positioning itself as a key player in the eCommerce enablement and analytics space. The platform integrates with over 7,000 retailers, making media shoppable and providing valuable insights for multichannel brands.
Keep reading to explore the intricacies of MikMak's fundraising journey and the investors backing this innovative platform.
What Is MikMak?
MikMak, founded by Rachel Tipograph in 2016, is headquartered in New York. The company specializes in eCommerce enablement and analytics, integrating with over 7,000 retailers to make media shoppable. With a team of 11-50 employees, MikMak provides tools that enhance the online shopping experience for multichannel brands.
How Much Funding Has MikMak Raised?
- Seed Round
- Amount Raised: $3.2 million
- Date: August 2016
- Lead Investors: VaynerMedia
- Motivation Behind the Round: To expand MikMak's capabilities by launching a SaaS product that allows larger retailers and brands to have more control over the MikMak experience, including customer data, shopping cart integration, and video customization.
MikMak has raised a total of $3.2 million in funding. The current valuation is $3.2 million (~estimated).
Key Investors
- VaynerMedia
- Details: VaynerMedia is a digital agency founded by Gary Vaynerchuk, known for its expertise in social media and digital marketing. The agency has a strong presence in the advertising industry, helping brands build their digital footprint.
- Investment Focus Areas: Digital marketing, social media, advertising
- Notable Investments: Not specified
- SLOW Ventures
- Details: SLOW Ventures is a venture capital firm that invests in early-stage companies across various sectors. The firm is known for its hands-on approach and support for innovative startups.
- Investment Focus Areas: Early-stage companies, technology, consumer products
- Notable Investments: Not specified
- UTA Ventures
- Details: UTA Ventures is the investment arm of United Talent Agency, focusing on media, entertainment, and technology investments. The firm leverages its industry connections to support portfolio companies.
- Investment Focus Areas: Media, entertainment, technology
- Notable Investments: Not specified
- BRaVe Ventures
- Details: BRaVe Ventures is a venture capital firm that invests in media and technology startups. The firm aims to drive innovation in the digital media landscape.
- Investment Focus Areas: Media, technology, digital content
- Notable Investments: Not specified
- MX Investments
- Details: MX Investments participated in MikMak's seed funding round. Specific details about this investor are not provided in the available sources.
- Investment Focus Areas: Not specified
- Notable Investments: Not specified
What's Next for MikMak?
As MikMak looks to the future, the launch of its SaaS product presents a significant opportunity. This new offering will allow larger retailers and brands to integrate MikMak's service into their existing shopping cart platforms, providing a more customized and controlled shopping experience. The potential for growth is substantial, especially with the increasing demand for video content in e-commerce.
Given the success of its initial funding round, MikMak is well-positioned for future investment opportunities. The company may seek additional funding to support the development and expansion of its SaaS product. However, challenges such as competition from other platforms and the need for continuous innovation could pose hurdles along the way.
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