If you browse Instagram, you are probably familiar with the term “link in bio”. Links are not allowed in post captions, and users are allowed only one URL in their bios, so many create a simple website with multiple links for their followers. One of the most popular “links in bio” services with over 12 million users, LinkTree announced today that it has raised $ 45 million in Series B funding. The round was led by Index Ventures and Kotyu with participation from investors Airtree Ventures and Insight Partners.
Coatue President Dan Rose will join the board of directors of Lyntry. The final round of the Sydney, Australia-based startup was a $ 10.7 million Series A announced in October 2020. Linktree’s latest funding will be used on tools that make social commerce easier.
LinkTree states that one-third or 4 million of its users signed up within the last three months. This is partly because people are spending more time on social media and e-commerce shopping during the epidemic.
Founded in 2016, Linktree now competes with a roster of “Link in Bio” services, including Shorobi, Linkin.bio, and the recently launched Beacon.
“When we launched LinkTree, we created a completely new category. We were previously in the market and with over 12 million users globally, still holding 88% market share, ”Alex Zakaria, founder and CEO, told ClearTips. “Inevitably we have seen a lot of results from competitors, but part of the exclusivity of Linktree is its deceptively simple design.”
Zakaria said users are one of the differentiators of linkry across a wide range of categories, including health and wellness, real estate, sports, music, politics, publishing and food. It is used by Shopify, Facebook, TikTok, YSL, HBO and Major League Baseball, and by celebrities such as Jonathan Van Ness, Jamie Oliver and Pharrell.
“We can start as a link-in-bio tool, but over time LinkTree has evolved and the platform has become a social identity layer of the Internet. Our vision for how this platform will sit at the intersection of digital self-expression and action means that we are thinking boldly when we come to our platform. “