‘Link-in-bio’ tech firm bags $110m injection to accelerate UK expansion
An Australian “link in bio” tech firm that allows users to customise social media links has announced a $110m funding injection today, as it looks to accelerate its growth in the UK.
Melbourne-headquartered Linktree, which allows users to tailor links in their bio and direct followers to external sites, has snapped up a star-studded customer base including Stephen Fry, Dwayne ‘The Rock’ Johnson and Ellie Goulding.
The firm is now aiming to accelerate its growth into new markets and introduce a range of new products following the cash boost, which was led by Index Ventures and Coatue with backing from Peanut CEO Michelle Kennedy and 20VC Founder Harry Stebbings.
The UK is Linktree’s second biggest market for paid subscribers and bosses are looking to bolster their presence with the first team members in business development, partnerships and marketing.
Co-founder and boss of Linktree Alex Zaccaria said the firm was now evolving into its next stage.
“We have grown beyond the traditional ‘link-in-bio’ company, connecting users’ fragmented online presence and establishing our position as a new sub-sector of the tech industry,” he said.
“This funding will ensure we continue to innovate and develop tools that empower people to grow.”
Linktree’s user base has ballooned to 24 million in the past year, with the firm driving 1.2 billion clicks to commerce-related websites in 2021 alone.
From 2020 to 2021, Linktree said its influencer, small business, and music verticals have grown on average more than 300 per cent each.
Partner at Index Venture Danny Rimmer said Linktree was helping establish a connection between brands, influencers and their followers.
“Trust online is more challenging than ever with the massive growth of the creator economy and increased fragmentation of digital identity on platforms across the globe,” he said.
“Over the last year, Linktree quickly emerged as a brand that creators and their audience trust.”