TLDR: Australian adtech firm Linkby has successfully raised US$15 million (AUD$23 million) in a Series B funding round led by Boston-based Volition Capital. This significant investment, Volition Capital’s first in Australia, is earmarked to accelerate Linkby’s expansion in the lucrative US market, double its US team, and enhance its platform with advanced AI and machine learning capabilities, particularly for its ‘Performance PR recommendation engine’ and ‘Generative Engine Optimization’ initiatives.
Linkby, the innovative Australian adtech startup specializing in performance-driven public relations, has announced a substantial US$15 million (AUD$23 million) Series B funding round. The investment was spearheaded by Volition Capital, a growth equity firm based in Boston, marking their inaugural foray into the Australian market. This capital injection is set to fuel Linkby’s ambitious growth plans, with a strong focus on expanding its presence in the United States and advancing its technological platform.
The company’s co-founder and CEO, Chris Wirasinha, highlighted the strategic importance of this funding, stating, “Over 80% of Linkby’s revenue now comes from the US and the UK. So Volition is backing Linkby’s proven status as the leader in Performance PR globally.” He further elaborated that the US market alone accounts for 55% of Linkby’s revenue and has been experiencing a remarkable 100% year-over-year growth in recent months. To capitalize on this momentum, Linkby plans to double its US team to over 40 people, with co-founder and CRO Adrian Fagerlund relocating to New York to oversee the expansion.
Linkby operates a unique hybrid PR and affiliate marketing network, connecting e-commerce brands with a vast network of over 600 premium publishers. Unlike traditional advertising models, Linkby’s platform allows brands to secure editorial coverage and pay only when readers engage, utilizing cost-per-click (CPC) or cost-per-mille (CPM) pricing. This performance-based approach ensures measurable results, moving beyond mere impressions to tangible outcomes. The platform boasts an impressive client roster of over 3,800 consumer brands, including industry giants like Charlotte Tilbury, Beyond Meat, Skechers, Free People, Skyscanner, T-Mobile, and Lululemon.
A significant portion of the new funding will be allocated to product development, particularly in the realm of artificial intelligence. Wirasinha revealed plans to build an ‘AI, machine-learning-powered recommendation engine.’ This engine will leverage millions of data points collected from working with thousands of brands and publishers to help clients identify the most effective publisher partners, streamline campaign setup, and optimize budget allocation for specific outcomes such as conversions, awareness, or traffic. Furthermore, Linkby aims to become a leader in ‘Generative Engine Optimization (GEO),’ positioning itself at the forefront of the next era of search, which includes large language models (LLMs) and ChatGPT-based search tools. This strategic move underscores Linkby’s commitment to leveraging cutting-edge technology to enhance its offerings and maintain its competitive edge in the evolving digital landscape.
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Founded in 2020 by Chris Wirasinha, Andrew Chak, and Adrian Fagerlund, Linkby’s success builds on Wirasinha’s prior experience as co-founder of the high-profile Australian media brand Pedestrian.tv, which was acquired by Nine Entertainment in 2018. The Series B funding round not only validates Linkby’s innovative approach to performance PR but also sets the stage for its continued global expansion and technological leadership.
