Saturday, May 21, 2022

Linktree Clicks on $152 Million in Series C

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Melbourne-based social media company Linktree has $152 million (US$110 million) in a raise that values ​​the company at $1.8 billion.

The new capital comes 12 months after the $59 million Series B.

Linktree has been profitable since its launch in 2016 and had a startup through 2020, having first raised capital with a Series A of $15 million in October of that year.

The new round was again led by existing New York investors European VC Index Ventures and Coatue Management (which led last year’s raise), along with local funds AirTree and Insight Partners. US company Greenoaks, which has invested in fellow Melbourne tech unicorn Airwallex, also signed on to the deal.

The company now plans to hire approximately 200 to 300 in the US and Australia over the next 12 months.

Linktree is a tool to optimize the internet presence of a celebrity, business or blogger, manage content on social media sites like Instagram, Facebook, YouTube and Twitch, send viewers to other sites or an e-commerce store.

The platform came under fire in January of this year from sex workers and adult content creators after a crackdown by the link organizing service that saw many of the adult entertainers banned without warning.

A company spokesperson told Startup Daily at the time that while many sex workers use Linktree, they adhere to the company’s legal and community standards, but are not allowed to promote real sexual services.

“As per our company policy, Linktree banned a small number of accounts that resulted from sharing a URL that violated community standards by sharing ads for the sale of genuine sexual services,” the spokesperson said.

The company has reportedly doubled its user base to over 24 million in the past 12 months, and claims to have about 40,000 signups per day.

Other investors in the company include Afterpay co-founder Nick Molnar, LinkedIn executive chairman Jeff Weiner, former Bumble exec Michelle Kennedy and former Slack exec April Underwood.

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