Modash Doubles Down on International Expansion with $12M Series A
Like all VCs, we at Change Ventures are drawn to fast-growing startups. But sometimes, it’s the personal growth of a founder that makes you eager to strike a deal. This was exactly the case that led us to back Avery Schrader, as we witnessed him build Modash, a creator economy infrastructure startup.
With over 100 million influencers worldwide, the market has grown from just $1.7 million in 2017 to an anticipated $35 billion industry by 2024. Despite this massive scale, the influencer market remains largely unorganized, resembling more of a jungle than a well-structured ecosystem. This chaotic landscape has attracted countless expeditions seeking untold treasures, yet most, despite being equipped with modern technology, have gotten lost and never scaled beyond establishing small footholds. In simpler terms, only a handful of startups in the creator space have managed substantial growth.
Enter Modash. Early on, they realized that most startups in this field were actually agencies in disguise, presenting themselves as tech companies. This insight drove the Modash team to intentionally steer clear of the agency model, which, while promising short-term gains, lacks scalability in the long run. Instead, Avery’s team doubled down on data and technology, sticking with this vision despite doubts from all sides. Avery’s goal was to make Modash so indispensable that investors (and potential customers) couldn’t ignore its innovation in the influencer space. Since we backed Modash’s seed round in 2022, they have kept their promises — quadrupling their revenue and surpassing every KPI necessary to qualify for an A round. More importantly, this growth gave them the luxury to select investors based on alignment with their vision.
Now, with their $12M Series A secured from HenQ, the world is their oyster. It’s thrilling to see Modash opening headquarters in Toronto; moving closer to their expanding North American customer base.
For those interested in joining this crazy journey, check out their job opportunities — they’re hiring!
