- Kyra, a creator-economy startup, announced a $15 million Series A round in late October.
- It plans to use the funds to launch Kyra Platform, a service to connect brands and influencers.
- Here are 20 slides from the pitch deck the company used.
The creator-economy startup Kyra announced a $15 million Series A round in late October.
The round was led by Bonnier Ventures with participation from LionTree, Firstminute Capital, Guardian Media Group Ventures, and Torch Capital, among others.
Kyra’s cofounder Devran Karaca told Insider the company plans to use the funding to launch Kyra Platform, an influencer-marketing service to connect brands and creators focused on TikTok partnerships.
“It’s similar to how freelancers operate with Upwork,” he said, adding, “It’s a place where they come to build their career, find brands to work with.”
With this system, brands can send prospective campaign briefs using two models: Hero Briefs, which cast curated creators in campaigns on a fixed rate, or Community Briefs, which are campaigns open to any creator and pay on a performance basis.
A creator can review the brief — including the proposed compensation — and decide whether to participate in the campaign. If they accept, they are required to post a video on TikTok and link to that video on Kyra. If the content meets the brand’s requirements, the creator will get paid. Payments are performance-based, with a set payout per video view.
The services offered on Kyra Platforms will be free to creators, while brands will pay a fee to be on the platform and an additional fee for campaign execution.
There is no exclusivity required of the creator — they can work on different platforms or with their own manager in addition to being on Kyra Platform.
Kyra, founded in 2017, has worked with brands like Nike, Converse, Calvin Klein, and Amazon Prime Video. Karaca said the company worked with about 5,000 creators across branded campaigns over the past year.
The rise of TikTok has been key in the development of the company. It began shifting its focus to the short-form video platform in 2019, after two years of operating primarily as a content studio on YouTube.
Kyra’s ecosystem includes Kyra Originals, a network of TikTok channels producing original content; Kyra Profile, a Gen Z creator incubator program; and Kyra Studios, a production studio that creates social content on behalf of brands.
In 2020, after the Black Lives Matter protests, several creators came forward to describe issues working with the company and accused it of mistreating creators of color.
Karaca told Insider in a statement that it had “made mistakes in the past and ultimately didn’t uphold our company’s core values,” adding that the company had since undergone a restructuring.
Karaca said the company was “proud of the environment we’ve fostered at Kyra with both our employees and creators,” adding that it had “a strong culture, and high engagement and retention, but most importantly a psychologically safe workplace.”
Read 20 pages of the pitch deck Kyra used to raise a $15 million Series A round:
Note: One slide containing confidential information about the company’s revenue was removed at Kyra’s request.