Phyllo, a startup that is building tools for developers of creator economy applications, has raised $15 million in its Series A funding round from RTP Global, with participation from Nexus Venture Partners, Better Capital, and iSeed.
The startup plans to use Te funds to accelerate product development, expand its customer base, and develop its developer-first API platform.
San Francisco-based Phyllo was founded in 2021 by Akhil Bhiwal, Achintya Gupta, and Mohit Kumar, it builds a set of program interfaces (APIs) that help businesses and developers have continuous access to verified creator data with direct creator permission from hundreds of platforms such as YouTube, Instagram, Twitch, TikTok, Patreon, Discord, and Spotify.
It launched its product earlier this year. Its suite includes an identity API that verifies a manufacturer’s identity and profile data.
“Our goal with Phyllo is to enable these developers and companies to focus on their core business, achieve data coverage over hundreds of creator platforms and go to market in the fastest way possible,” Akhil Bhiwal, cofounder & CEO, Phyllo.
Bhiwal said that while creators were gaining traction, their audiences and engagement were kept in specific platforms, and they also faced issues proving their clout.
“Think about what Stripe and Plaid did for payments and banking respectively, we believe that Phyllo will do the same for the creator and digital native economy,” said, Jishnu Bhattacharjee, Managing Director at Nexus Venture Partners.
The company claims it has access to links, including bio platform Beacons, creator-focused banking app Creative Juice, influencer marketing platform Creator.co, financial service provider Karat, a social commerce platform MagicLinks, and Bintango that provides productivity and monetization tools.
Nishit Garg, Partner at RTP Global, said “the creator economy and Web3 is only just starting to grow and companies like Phyllo will play a significant role in the growth of this market”.
Phyllo is a data gateway to access creator data directly from the source platforms.
Phyllo builds the underlying infrastructure that connects with every creator platform, maintains a live data feed to the systems these platforms use to manage creators’ data and provides a normalized data set so that businesses can make use of creators’ data in a way that is simple yet impactful.