Influencer marketing company CreatorIQ today announced its acquisition of influencer analytics platform Tribe Dynamics. The deal looks to bring together Tribe Dynamics’ advanced analytics and benchmarking solutions with the ability to make those insights actionable through CreatorIQ’s Creator Intelligence Cloud. According to industry sources, the acquisition price was in the $70 million range. CreatorIQ is paying a combination of cash and stock, sources said.
The two companies complement each other in that Tribe specializes in earned media within the beauty and fashion industries whereas CreatorIQ specializes in paid initiatives within the entertainment and gaming communities. The new company aims to provide end-to-end solutions for marketers to find, activate, manage and measure creator relationships as influencer marketing continues to grow in size, scope, and maturity.
The combined company extends CreatorIQ’s leadership position as the largest influencer marketing SaaS platform in terms of revenue, growth, data authority, and global expansion to more than 250 employees and $90 million in funding.
“With this union, CreatorIQ is accelerating our focus on advanced data science and analytics,” said Igor Vaks, Founder and CEO, CreatorIQ. “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. This partnership raises the bar for what leaders should expect from an influencer marketing platform.”
Conor Begley, President at Tribe Dynamics, will be taking on the additional role of Chief Strategy Officer. He said the deal is more than just two influencer marketing leaders joining forces.
“This is a profound opportunity to create standards for the entire influencer marketing sector and represents a multi-billion-dollar market opportunity,” Conor said. “Together, we will represent the unquestioned leader in the market and we are committed to serving the needs of brands across the globe as they invest in influencer marketing.”
CreatorIQ recently received $40 million in funding led by previous investors TVC Capital, Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors, Affinity Group, and Unilever Ventures. Silver Lake Waterman joined the effort as a new investor in the company.