Northwestern Mutual and Johnsonville have committed follow-on capital investments into a digital media marketing startup whose technology is being used by companies like pop star Rihanna’s Savage X Fenty lingerie brand.
Lumanu, a provider of technology for the social media influencer marketing industry, announced this week it raised $2 million in new funding to extend its platform, SocialCert, and to grow its presence in New York City. Mequon-based Capital Midwest Fund led the round of funding.
Lumanu has offices in Milwaukee, Chicago and Oakland, California.The platform from Lumanu allows brands to securely share digital assets, like data and advertising permissions, between influencers and brand marketers. Influencers are people who endorse products or services on social media. It’s pegged to be a $15 billion industry by 2022.
“Lumanu is bringing pioneering technology to an evolving influencer marketing space, where savvy brands are now cultivating deeper relationships with influencers,” said Steve Einhorn, general partner at Capital Midwest, in a statement. “As the industry matures into a true media channel, Lumanu is playing a pivotal role in bringing more standardization and transparency to the space.” Read the full story here.