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Affiliate marketing platform Skimlinks secures $1.5M Series A funding

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skimlinks[UK] Affiliate marketing platform Skimlinks has secured a Series A round of funding, which we’ve now confirmed as $1.5 million.

The round, which was effectively a follow on, was led by Sussex Place Ventures and includes the National Endowment for Science, Technology and the Arts (NESTA) and The Accelerator Group, along with a number of the original angel investors involved in Skimlinks’ seed round earlier in the year.

The new funding will be used by the company to expand its US operations, where it currently generates over half of its revenue, along with investing in sales and marketing initiatives, and product development.

Skimlinks, which launched in December 2008, provides an affiliate links tool to enable online publishers to monetise their content by automating the process of creating and maintaining those links. Publishers are required to include a snippet of code on the footer of their site and then when a user clicks on any of the retailer links, Skimlinks automatically converts them into affiliate links. The service is free but Skimlinks retains a percentage of the commission paid out by the affiliate networks.

The Skimlinks platform currently supports 7,000 merchants across 22 affiliate networks internationally, while publishers using the system include Hachette Filipacchi Media US, Mirror.co.uk, AVForums.com and Future Publishing UK. The company also says that it’s seen month-­on-­month growth of 35% in the past year, and that November alone saw £6 million in merchant sales go through its platform. That’s pretty healthy considering we’re in a recession.

The company is co-founded by CEO Alicia Navarro, who adapted the model from Australia’s Skimbit.com which she also founded, and Biz Dev Director Joe Stepniewski also previously with Skimbit.

  • http://www.ilikeucoz.com Fabio

    Way to go Alicia, Joe, Ciaran et al! Congrats and keep up the good work.

  • Denis Mars

    Well done Alicia and the gang at Skimlinks.. Does this mean we’ll be seeing more of you in San Fran??

  • http://blog.stevepoland.com/about Steve Poland

    Congrats Alicia and Joe!

  • http://www.posoffer.com David Yeordpoe

    Congrats.

  • http://twitter.com/smashing Alx Klive

    Wow. That’s amazing – makes sense.

  • http://www.ilikeucoz.com Fabio

    Let’s do some math… £6M in merchant sales mean something between 75k and 300k in revenues for Skimlinks in the worst case of generating only sales of consumer electronics (2.5% rev share on average, split 50/50 with the publisher) and the best case of a variegated mix of products (assuming an average 10% rev share, split 50/50 again). Let’s say that the truth lies somewhere in between, so 150k in revenues in the month of November. The figures could be positively affected by Christmas shopping but the company is growing so let’s assume that each month in 2010 will generate at least the same amount of money. Now, my considerations are…
    a) wow guys, you made a hell of a great job;
    b) do you really need a $1.5M injection?

    The first point doesn’t really need any further comment, while b) makes me wonder whether it wasn’t possible to fund the expansion with the cash flow they are generating. Evidently they had their reasons to do so but it makes me wonder why anyway :)

    • http://www.gymfu.com Jof

      Make hay while the sun shines; better to have £1m now than in 6-12 months. Reduce risk, maintain lead, maintain momentum.

  • http://snagsta.com Phillip Hofmeyr

    Fabio! you are a lot smarter than you look… granted, those Bill Cosby sweaters don’t help :-)

    Congrats Alicia & Joe!

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    […] TechCrunch (blog) […]

  • http://www.hotelsoutlook.com RG

    Interesting model. Congrats to the company though

  • http://prime-elite.com Brennan

    A very interesting model that I think could do well for people who are just getting started but in all reality all they are doing is signing you up for an affiliate network and doing a redirect of the link for you.

  • http://affiliate-blogs.5staraffiliateprograms.com/3714/will-2010-be-the-year-of-the-micro-affiliate.html 5 Star Affiliate Blogs

    Will 2010 be the Year of the Micro Affiliate?…

    Everyone can be a micro affiliate now. This boom has been further propelled as social media has moved into the mainstream. See announcements about new tools that make it easy below.
    ……

  • http://www.addtoany.com/ Pat

    So awesome to see how Skimbit -> Skimlinks has evolved. Congrats on the funding, Alicia! And Joe!

  • http://www.vccafe.com VC Cafe

    Congrats on the funding news, hope it takes you to the next milestone.

  • http://www.somethingstore.com Sami Bayrakci

    Absolutely brilliant service for affiliate marketeers; solves chronic problems and saves a ton of time.

  • http://www.fanduel.com Nigel Eccles

    Congrats guys. Good timing in getting it closed before Christmas.

  • http://press.skimlinks.com/2009/12/18/affiliate-marketing-platform-skimlinks-secures-1-5m-series-a-funding/ Affiliate marketing platform Skimlinks secures $1.5m Series A funding | press

    […] Steve O’Hear   |   December 17th, 2009   |   view article […]

  • http://www.freethegods.com David Scott

    I found a new program that works really well! This is better than other internet marketing strategies I have looked at. If you are interested you can read about my experiences here: http://htbyow.blogspot.com/

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  • http://nextupinnovation.wordpress.com/2009/12/17/affiliate-marketing-platform-skimlinks-secures-1-5m-series-a-funding/ Affiliate marketing platform Skimlinks secures $1.5M Series A funding « NeXtUp Innovation

    […] marketing platform Skimlinks secures $1.5M Series A funding By nextupinnovation Affiliate marketing platform Skimlinks has secured a Series A round of funding, which we’ve now confirmed as $1.5 million. The round, which was effectively a follow on, was led […]

  • http://online-scholarship.blogspot.com Kent

    Thanks for the wonderful information.

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    […] Affiliate Marketing Success Story: One affiliate marketing business used as an example that has done a great job as a start-up is Skimlinks. Skimlinks, which launched in December 2008, provides an affiliate links tool to enable online publishers to monetise their content by automating the process of creating and maintaining those links. Recently they secured a Series A round of funding, which we’ve now confirmed as $1.5 million. The announcement was made on TechCrunch. […]

  • http://thehowtomoneyblog.com corey

    This is a new affiliate net work for me (never heard of it before). Looking forward to checking it out.

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