Phyllo, a fast-emerging startup that builds creator economy application tools for developers, has reportedly announced that it has raised more than $15 million through a Series A funding round led by RTP Global.
According to reports, the investment signifies burgeoning investor interest in emerging creator economy. Other investors such as iSeed, Better Capital, and Nexus Venture Partners, also participated in the funding round.
The firm, which raised a seed funding of more than $2.8 million back in 2021, is backed by a number of angel investors like Pat Shah, an executive at Audible; Nakul Gupta, an executive at Coinbase; Ankur Nagpal, founder of Teachable; and Sima Gandhi, a former Plaid executive.
The company stated that it plans to utilize the newly raised capital to expedite product development, scale up its developer-first API platform, and expand its consumer base.
Phyllo, founded 2021 by Achintya Gupta, Akhil Bhiwal, and Mohit Kumar, is developing a set of APIs (application programme interfaces) that help developers and businesses get continuous direct access to verified content-creator data from numerous platforms such as Instagram, YouTube, TikTok, Twitch, Discord, Patreon, as well as Spotify, with the permission of the creators.
In his official statement, co-founder Bhiwal stated that while creators were building immense traction, their engagement and audience were boxed inside specific platforms. Meanwhile, creators also faced difficulties proving their clout. At the same time, developers building products and tools to help creators were struggling to find a source of creator data that was verified.
Bhiwal further added that the leadership’s goal is to enable these companies and developers to concentrate on their core business, attain data coverage across hundreds of content-creator platforms, and then go to the market through the quickest means possible.
Phyllo’s list of customers includes the likes of Creative Juice, a creator-focused banking application, Beacons, a link-in bio platform, Creator.co, an influencer marketing platform, Karat, a financial service provider, MagicLinks, a social commerce platform, as well as Bintango, a provider of productivity as well as monetisation tools for creators.
Source credit: https://www.moneycontrol.com/news/business/startup/phyllo-bags-15-million-funding-to-build-gateway-for-creator-data-9043591.html