Influencer marketing platform CreatorIQ, which counts companies like Disney and Unilever as clients, acquired Tribe Dynamics, another influencer marketing platform known best for its analytics software, in a deal expected to close this fall.
Tribe Dynamics — which works with fashion and beauty brands heralded for their influencer marketing strategies, like Fashion Nova and Revolve — will continue to operate as an independent company “for the foreseeable future,” according to a press release.
”Applying Tribe Dynamics’ proprietary models, which are the standard in the beauty and fashion industries, to additional verticals will allow us to offer analytics and measurement benchmarks for the entire industry,” said Igor Vaks, Founder & CEO at CreatorIQ. “This partnership raises the bar for what leaders should expect from an influencer marketing platform.”CreatorIQ has raised more than $80 million in funding. Its latest Series D round amounts for half of that total and was led by TVC Capital.
The deal is the latest example of the arms race happening in the influencer marketing space, where consolidation is ramping up and the biggest firms are looking for any and all acquisitions to beef up their own operations and stave off competition.
As creators have become a key part of any successful digital marketing strategy, brands and their digital partners are looking to bulk up their influencer operations.