Livestreaming and influencer marketing services platform Wahool has recently completed two consecutive rounds of financing, according to a report by Chinese media outlet 36Kr on Tuesday. The pre A-round of financing featured participation from Jinshajiang Venture Capital, while A-round funds were provided by Ceyuan Ventures. The total amount of financing was nearly $10 million, and Foresight Capital served as the exclusive financial advisor.
Wahool was founded in 2021 and started with Amazon Live, then successfully built an influencer marketing solution. By integrating supply chain resources, Wahool can provide one-stop digital services including product selection, marketing, quality control and after-sales services. It has basically formed a relatively complete business loop between merchants (including brands and factories), platforms and influencers. The firm’s influencers are expanding from Amazon to global livestreaming platforms including TikTok, Instagram and Facebook.
According to official information, as of March 2022, Wahool had established relationships with 1,000 overseas influencers, with a monthly sales turnover exceeding $6 million and a compound quarterly growth of 146%.
Wahool’s founder and CEO, who is known as “Calvin,” believes that the development of retail efficiency begins with the improvement of traffic aggregation, and integrated services around the influencers, surely giving birth to a new super platform. By supervising the quality of goods, influencers and operations, the firm is committed to building a livestreaming services platform that efficiently links brands and influencers. It has cooperated with more than 500 cross-border brands, such as GOVEE, Ecoflow, SHOKZ, eufy by Anker and Renpho.
Calvin previously worked for Amazon and has more than 10 years of experience in the clothing retail e-commerce industry. Other core team members hail from well-known companies such as Amazon, Toutiao, Procter & Gamble and Estee Lauder. Currently, Wahool has set up branches in New York and Guangzhou.
After more than ten years of development, the cross-border e-commerce field has not only given birth to listed companies and unicorns, but has also attracted investment from internet giants such as Alibaba, JD.com and ByteDance. More funds are likely to flood in, and livestreaming e-commerce is rising overseas. With brands turning to livestreaming providers, new merchants are entering the field, making the potential value of service providers like Wahool more obvious.