Image: © Denys Prykhodov/Stock.adobe.com
The Series B funding round comes with the addition of a former Facebook VP to Linktree’s board of directors.
One of Australia’s fastest-growing start-ups, Linktree, has secured a $45m Series B funding round co-led by Index Ventures and Coatue.
Headquartered in Melbourne, Linktree bills its service as ‘the only link you’ll ever need’. Popular with Instagram users, who are unable to create hyperlinks in the text of image captions, Linktree is among a number of services offering a hub of links to which users cultivating an online presence can direct their followers.
Links stored on Linktree can direct followers to product purchases or other content recommendations, and the company intends to use this latest investment to boost its social commerce offerings.
Index Ventures partner Danny Rimer said that Linktree reflects the changing nature of relationships between brands and consumers “in an online world which is fragmented and noisy”.
‘There’s no longer a need for brand-immersive websites or big campaigns’
– ALEX ZACCARIA
Index Ventures has previously invested in online platforms such as Patreon and Discord, while Coatue is an investor in current social media sensation TikTok.
Following the investment, Coatue chair Dan Rose is joining Linktree’s board of directors. Amid 20 years’ experience in tech business, Rose managed retail divisions at Amazon and, as a VP at Facebook, was responsible for the company’s early monetisation strategy and business development.
Linktree previously raised $10.7m in a Series A round announced in October 2020. Returning investors in this Series B round include AirTree Ventures and Insight Partners.
What’s next for Linktree
With more than 12m users worldwide, Linktree claims to be a market leader in this space, which also includes Taplink, Link in Profile and Lnk.Bio to name a few.
Brands using Linktree as their link provider of choice include Shopify, Facebook, TikTok and HBO. The platform has also attracted celebrity users such as Jonathan Van Ness from makeover show Queer Eye, TV chef Jamie Oliver and musician Pharrell Williams.
Users can set up a minimalist Linktree microsite that will host a list of links for free, while a pro subscription offers enhanced features such as the ability schedule links or to embed videos from YouTube or Twitch.
As well as further product development, the company plans to open multi-location creator hubs that will double as workplaces for its expanding remote teams. This will start with the team in LA but is expected to expand to the company’s offices in Melbourne and Sydney.
“There’s been a sea change when it comes to how we interact with the brands and creators we love,” said Linktree co-founder and CEO Alex Zaccaria. “There’s no longer a need for brand-immersive websites or big campaigns to make a memorable impression or drive engagement.”
