Melbourne-based link-in-bio business Linktree has secured USD$110 (AUD$152 million) in funding from Index Ventures and Coatue, pushing its valuation into unicorn territory as it seeks to scale the platform even further.
Publicly traded markets may be volatile with trepidation from retail investors to inject funds into startups, but 2022 is already proving a stellar year for new unicorns from Australia with several joining the club including Tritium (NASDAQ: DCFC), Employment Hero, Scalapay, Zeller, and Immutable.
The latest raise gives Linktree a valuation of USD$1.3 billion (AUD$1.78 billion), and follows a fast five years for the company which counts 24 million users.
Linktree says the raise, which was also backed by Australian firm AirTree Ventures, will allow the company to focus on additional geographic expansion, recruitment, revenue streams and further value for its creators and brands via new tools and partnerships.
In particular, the company says it hopes to hire another 200 to 300 employees in Australia over the next year, and complete its new Melbourne HQ which will support both hybrid work and local creators.
In the last year alone, Linktree says it had 1.2 billion unique visitors per month to the website which enables users to create a streamlined online identity to showcase and commercialise their profile.
The company, co-founded by brothers Anthony and Alex Zaccaria and Nick Humphreys in 2016, counts the likes of Selena Gomez, Noah Beck, Bella Poarch, Red Bull, Shawn Mendes, the Los Angeles Clippers, Comedy Central, Dwayne 'The Rock' Johnson, and HBO as users.
"We are quickly growing beyond the traditional 'link-in-bio' company, connecting users’ fragmented online presence and establishing our position as a new sub-sector of the tech industry,” Linktree co-founder and CEO Alex Zaccaria said,
“This funding will ensure we continue to innovate and develop tools that empower people to grow, curate, and monetise their digital universe, maintaining Linktree as the market leader.”
From 2020 to 2021, Linktree says its influencer, small business and music verticals grew by more than 300 per cent each on average - with growth the result of its strong reputation in the space according to Index Ventures partner Danny Rimer.
“Trust online is more challenging than ever with the massive growth of the creator economy and increased fragmentation of digital identity on platforms across the globe,” Rimer said.
“Over the last year, Linktree quickly emerged as a brand that creators and their audiences trust.”
First president appointed to drive international growth
As it enters its next phase of growth, Linktree has appointed its first president - Mike Olson - who will focus on partnerships, strategy, talent and building culture across the global organisation.
Olson has experience in the gaming and creator economy, having held positions at Twitch, Pandora, LinkedIn and Microsoft.
"I’m honoured to be joining Linktree at this milestone moment,” said Olson, who will be based in the US.
“Over the past few years, the creator economy has grown rapidly and Linktree has led the way through innovations in discovery, engagement, and monetisation – there are so many commercial possibilities with an audience of this size.”
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