If you browse Instagram, you’re in all probability acquainted with the time period “link in bio.” Links aren’t allowed in put up captions, and customers are solely allowed one URL of their bios, so many create a easy web site with a number of hyperlinks for their followers. Linktree, some of the in style “link in bio” companies with greater than 12 million customers, introduced in the present day it has raised $45 million in Series B funding. The spherical was co-led by Index Ventures and Coatue, with participation from returning buyers AirTree Ventures and Insight Partners.
Coatue chairman Dan Rose will be a part of Linktree’s board of administrators. The Sydney, Australia-based startup’s final spherical was a $10.7 million Series A introduced in October 2020. Linktree’s newest funding will probably be used on instruments that make social commerce simpler.
Linktree says a few third, or four million, of its customers signed up inside the final three months. This is in partly as a result of folks have been spending extra time on social media and e-commerce buying through the pandemic.
Founded in 2016, Linktree now competes with a roster of “link in bio” companies, together with Shorby, Linkin.bio and the just lately launched Beacons.
“When we launched Linktree, we created an entirely new category. We were first to market and, with over 12 million users globally, still hold 88% of market share,” founder and chief govt officer Alex Zaccaria informed TechCrunch. “Inevitably we’ve seen plenty of competitors pop up as a result, but part of the uniqueness of Linktree is its deceptively simple design.”
Zaccaria added that considered one of Linktree’s differentiators is its adoption by customers in a variety of classes, together with well being and wellness, actual property, sports activities, music, politics, publishing and meals. It’s used for bio hyperlinks by Shopify, Facebook, TikTok, YSL, HBO and Major League Baseball, and celebrities like Jonathan Van Ness, Jamie Oliver and Pharrell.
“We might have started as a link-in-bio tool, but over time Linktree has evolved and the platform has become a social identity layer of the internet. Our vision for how the platform will sit at the intersection of digital self-expression and action means we’re thinking boldly when it comes to our roadmap.”
