Artificial intelligence (AI) marketing startup Streamforge has raised $1.6 million CAD ($1.2 million USD).
Triptyq Capital led the round with participation from Leansquare, Telegraph Hill Capital, and other angel investor groups. Streamforge did not disclose the closing date of the round.
Founded in 2018 by Xavier Constantin and Nick Lombardi, the Streamforge platform uses artificial intelligence (AI) to help brands and publishers identify content creators and audiences who best align with their goals.
The seed round enables Streamforge to continue scaling its technology infrastructure and to onboard more brands and publishers, with an eye toward expansion across North America, Asia and Europe.
The capital raised will also enable further diversification into additional verticals, such as mobile, according to Streamforge.
The startup claims unique algorithms consider factors such as the target audience, preferred content, and campaign objectives. The platform also offers a range of features to streamline influencer marketing, including a global search engine for creators, automated campaign management from start to finish, integrated tracking of sales, and real-time reporting.
Streamforge maintains its proprietary technology takes influencer marketing beyond matchmaking by leveraging billions of data points to gain a deeper understanding of creators and their audiences. This insight enables more precise and targeted pairing, optimizing the influencer marketing landscape in the highly diverse and competitive gaming environment.
Streamforge isn’t the first startup to use AI to tap influencers. Toronto-based #paid raised an $18.9-million CAD Series B round in 2021 as the company looked to expand its influencer marketing platform.
“Artificial intelligence (AI), with its ability to mine social media data at scale, make predictions and calculate performance metrics, has emerged as a way to address influencer marketing campaign challenges,” contends a recent report. This year, 63 percent of brands plan to use AI in executing their influencer campaigns, according to Influencer Marketing Hub’s 2023 benchmark report.
The second most popular vertical within the report, following beauty and fashion, is gaming, according to the report.
“The gaming industry is a sector where authentic and targeted engagement is key,” said Xavier Constantin, co-founder and CEO of Streamforge. “We see a huge opportunity in AI to precisely engage those audiences and reshape the dynamics of modern influencer marketing.”
