Estonian influencer search tool Modash raises €11M

UPD: Estonian Change Ventures also participated in Modash’s latest funding round. Although the exact amount contributed by Change Ventures in this round remains undisclosed, the firm secured additional capital via a special-purpose vehicle (SPV) to support the investment. In 2022, Change Ventures invested in Modash through its Fund II, which had typical investments ranging between €100K and €750K.

Tallinn-based tool for searching influencers Modash has raised €11M in Series A. Dutch VC HenQ led the round, with participation from some existing investors. 

Founded in 2018 by Canadian Avery Schrader and Estonian Hendry Sadrak, Modash has developed an AI-powered platform that connects brands with content creators. The company has a database of more than 200M profiles of creators around the world, each with more than 1K followers across Instagram, YouTube, and TikTok. The platform allows brands to apply filters when searching for the right influencer and audience. These include filters based on influencer attributes (location, follower count, engagement rate, language, bio keywords, hashtags, and more) and audience demographics (location, gender, interests, and fake follower detection). The platform also provides insights into influencers' engagement rates, fake follower counts, audience demographics, recent posts, lookalike profiles, and history of sponsored content.

Modash's clients include more than 1.5K B2C brands, including Google, Wolt (Doordash), Bolt, Adoreme, NordVPN, and others. The platform has a strong presence in the US and Canada, where it has 700 customers. Modash employs 60 people.

The startup will use the investment to enhance integrations for e-commerce businesses, develop new methods to compensate creators internationally and expand its teams their teams across North America.