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No matter how great your your business is, monetization can be frustratingly elusive. But Skimlinks has raised a round of growth financing from Greycroft Partners to help you get there.
The technology converts digital content into affiliate links. Brands or publishers can then earn money through affiliate marketing without making much of an effort. The company’s SkimLinks product turns normal links into affiliate links, while SkimWords uses natural language processing to detect product references in the text and direct people to where they can buy them.
“We are the only technology in the world that can detect granular product references in content, in real time across multiple verticals, and link them accurately to the most relevant retailer of that product,” the company said on its site.
Skimlinks has a network of 140,000 active publishers and 17,000 affiliate programs. According to a statement issued this morning, Skimlinks generates seven-figure revenues each month from its network and processes 300 million clicks per month. Clients include Conde Nast, Gawker, AOL Europe, WordPress, Hearst Digital, Amazon, and eBay. The company anticipates it will drive $500 million of e-commerce sales globally in 2013.
The amount of this round is undisclosed, but the company says it will use the funds to build out its products and expand into Asia. Along with the funding announcement, SkimLinks’ Japanese-language website went live this morning.
Greycroft Partners led this round — its portfolio includes other ad tech and online publishing startups including Buddy Media, Klout, and the Huffington Post. A group of Japanese angel investors also participated, along with Forum Foundry and existing investors. Skimlinks previously raised $7.02 million, closing its second round of institutional financing in November 2011.
SkimLinks was founded in 2007. It has 55 employees, with headquarters in London and offices in San Francisco and New York. It will open operations in Asia this year.
Photo Credit: Shiraz Chakera/Flickr
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