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The funding was led by South Korea’s Krafton, the gaming studio that’s behind PlayerUnknown’s Battlegrounds, or PUBG, one of the largest internet-based mobile games in the world by player count.
Founded in 2018 by brothers Apaksh Gupta and Jivesh Gupta, One Impression is in the business of connecting influencers with brands and helping execute marketing campaigns. It charges a cut on both ends of the transaction based on the size of the creator and the brand, which is the primary source of revenue for the company.
“The creator economy, being so new, isn’t something that every venture capital fund or investor understands,” Founder and Chief Executive Officer of One Impression Apaksh Gupta told BQ Prime. Krafton naturally understands what the platform does, he said.
The company claims to transact with thousands of creators who generate more than one lakh content pieces for over 500 brands in 10 languages.
Currently, the One Impression has an annual run rate of $7 million, or Rs 58 crore. With the investment, it aims to grow that number sixfold and reach $40 million, or Rs 330 crore, in annual recurring revenue by 2024, Gupta said.
Krafton’s investment is structured as a pure financial investment, but there are strategic synergies at play as well, the CEO said. “It is a large player in the gaming category, and we hope to become their partner of choice for everything (influencer-related) for them globally. They will also help us enter South Korea faster, which has a very large creator economy.”
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