The Fastest Growing Micro-Influencer Platform in the Nordics Raises $1M for Expansion to Central Europe
Boksi outshines competition by introducing an AI driven matchmaking tool. Today Boksi.com announced $1 million in funding led by Trind Ventures (Estonia). Joining investors include Nordic VC Wave Ventures (Finland), prominent Nordic angel investors, as well as Finland’s public innovation fund Business Finland.
The Instagram influencer market alone was estimated at $1.3 Billion in 2018 and is expected to grow at a rate of above 76% over the next two years. Meanwhile, 61% of marketers still struggle to find the best influencers for their campaigns*. To tackle this challenge, Boksi outperforms current competition by mapping the behavior and preferences of an influencer’s followers. This is achieved with AI-based post analyzing.
After launching last summer, Boksi.com is already one of the fastest growing influencer marketing platforms in Europe with a presence currently in Finland, Sweden, Russia, Germany, the US, Denmark, and Croatia. Thanks to their scalable product, Boksi has been able to expand rapidly during the first eight months without establishing separate offices outside of Helsinki. Since launching, Boksi has shifted from working with smaller brands to working with listed companies, fast growing scaleups such as Wolt, and ad agencies including TBWA.
While competing platforms focus on influencers, we are the only one focusing on the actual followers of the influencers – the final target audience. For example, all competing platforms and agencies can find you a female influencer who follows a vegan diet. However, none of them can find an influencer whose followers prefer vegan food over a regular diet.
“Marketers are paying to reach the followers of the influencers, not the influencers themselves. While influencer preferences are an ok proxy for follower preferences, it’s far from perfect. We are digging deeper and analyzing the followers and their behavior to better map the perfect fit between marketers and influencers,” explains CEO Lasse Laaksonen.
“We’ve done several campaigns with Boksi.com, and we’re extremely happy with the high-quality content of the influencers and the number of new customers we’ve gained through this co-operation,” says Kirsi Leminen, Marketing Director at Wolt.
The Boksi team has over ten years of experience in the industry. Laaksonen’s previous company sold influencer marketing solution within the event industry generating millions in sales. Now the team has levelled up the influencer marketing tools from old models and is ready to expand Boksi.com to across the continent. The financing will be used to further develop Boksi’s platform and accelerate expansions in Europe.
“The team at Boksi.com has played a key role in building the Finnish influencer marketing scene since day one. From importing Red Cups, to operating the most profitable nightclub business in Finland, we strongly believe that the team at Boksi.com will fundamentally shape the future of how brands and content creators utilize social media,” says Oskari Tempakka, CEO at Wave Ventures.
Learn more about Boksi:
What: Micro-influencer platform
Founded: June 2018
Team size: 11
Total funding raised: 1M USD
Investors: Trind VC, Wave Ventures & angel investors
Boksi was part of the Slush 2018 pitching competition finals. Watch their Slush 100 pitch!