The Marketing Group PLC (TMG) (NASDAQ OMX:TMG) has acquired a minority stake in micro-influencer platform Narratrs to strengthen its influencer marketing reach.
Global marketing network TMG paid €485,000 cash for a 14% stake in Narratrs, a price that values it at €4.1mln.
Narratrs runs an artificial intelligence-powered, web and mobile platform to manage large-scale influencer marketing.
Influencer marketing relies on using key leaders to drive a brand’s message to a larger market, rather than marketing directly to a large customer base.
TMG originally made a small investment in Narratrs in September 2016 and invested more as part of a Seed Plus investment round this week.
Adam Graham, TMG’ s chief executive, said: “Our investment in Narratrs supports our platform-based approach to global marketing and is highly complementary to our service offering.”