Influencer-marketing startup Dreamwell AI raised $3.1 million CAD from Tim Draper and others as it seeks to automate creator prospecting and other tasks.
TORONTO, Oct. 10, 2024 /PRNewswire-PRWeb/ -- Billionaire VC Tim Draper (via Draper Associates) has led a $2.3 million pre seed in Dreamwell AI, an influencer marketing automation platform. Also participating in the funding round is Panache Ventures, BDC Capital Seed Venture Fund, and prominent early investors in companies like Uber and Xero.
The newly secured funding will accelerate Dreamwell's growth, allowing the company to further develop its technology to support major clients in the CPG and technology space, as well as expand its team. Dreamwell has already worked with some of the top A.I. startups such as Perplexity and Copy AI, as the influencer space expands. Dreamwell aims to redefine influencer marketing by helping brands identify influencers who offer genuine ROI, solving a persistent industry problem: overpaying for influencers who don't convert.
"We are solving one of the biggest pain points in the influencer marketing industry," said CEO and founder Kazzy Khazaal. "Too often, brands are overcharged by influencers with inflated engagement metrics that don't translate to real value. Our platform offers transparency and automation to help brands increase their ROAS and cut the fluff from their budgets."
Tim Draper, who led the funding round through Draper Associates, commented on the investment: "Dreamwell is addressing one of the toughest challenges in influencer marketing—finding the true value of influencers. What impressed me most was Kazzy's unwavering dedication and vision for the company. With his deep knowledge in the space and domain expertise, as well as the team's innovative approach, I'm excited to support their mission to make influencer marketing smarter and more transparent for brands."
Khazaal's journey into influencer marketing began when he moved to Los Angeles with nothing but a camera and lived on his friends' Yes Theory's couch in 2017, who now boast over 15 million followers themselves. Over time, he grew his own following to over 1 million followers and had one of the fastest growing YouTube channels in Canada. He then managed top creators, and hosted major influencer events in Hollywood Hills for some of the largest creators and celebrities. His hands-on experience with brands revealed the critical gaps and pain points in influencer pricing models, leading him to build Dreamwell in 2023 alongside CTO and co-founder Anthony Bobsin, a former core engineer at AdParlor and staff engineer at Instacart.
A Growing Creator Economy
This funding comes at a time when the creator economy is projected to approach $480 billion by 2027, according to a recent report by Goldman Sachs. With an increasing number of influencers and platforms emerging, Dreamwell is positioned to help brands maximize their return on investment by connecting them with the right creators based on accurate, real-time data.
What Sets Dreamwell Apart
Unlike traditional influencer marketing platforms, Dreamwell's software focuses on the real-time performance tracking of influencer campaigns, integrating with ecommerce platforms to track critical metrics such as revenue, AOV, conversions, and clicks. The system also provides real-time alerts when opportunities arise, allowing brands to adjust their campaigns mid-cycle for better results.
The Road Ahead
With this new round of funding, Dreamwell will continue expanding its capabilities to support more notable clients while doubling down on its mission to help brands avoid influencer overcharges. The platform aims to become the go-to tool for brands looking to optimize their influencer spend with transparency and efficiency.
Media Contact
Kazzy Khazaal, Dreamwell AI, 1 6131111111, [email protected], dreamwell.ai
SOURCE Dreamwell AI
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