Linktree clicks on $152 million in Series B extension

Melbourne-based social media venture Linktree has $152 million (US$110m) in a raise the company describes as a Series B extension.

This third round of fresh capital comes 12 months after its initial $59 million Series B.

The business is claiming a $1.8 billion valuation on the back of its latest cash injection.

Linktree has been profitable since launch in 2016 and had bootstrapped until 2020, having first raised capital in October of that year with a $15 million Series A.

The new round was once again led by existing investors European VC Index Ventures, and New York’s Coatue Management (who led the last year’s raise), along with local funds AirTree and Insight Partners. US firm Greenoaks, which has invested in fellow Melbourne tech unicorn Airwallex also joined the deal.

The social media admin platform is now looking to take on around 200 to 300 over the next 12 months in the US and Australia.

Linktree is a tool to optimise the internet presence of a celebrity, company or blogger, curating content across social media sites such as Instagram, Facebook, YouTube and Twitch, sending viewers to other sites, or an e-commerce store.

The platform came under fire from sex workers and adult content creators in January this year following a crackdown by the link-organising service that saw many of the adult entertainers banned without warning.

A company spokesperson told Startup Daily at the time that while many sex workers use Linktree, adhering to the company’s legal and community standards guidelines, but they cannot advertise real life sexual services.

The business has reportedly doubled its user numbers to more than 24 million now over the last 12 months, claiming to have around 40,000 signups daily.

Other investors in the business include Afterpay co-founder Nick Molnar, LinkedIn executive chairman Jeff Weiner, former Bumble exec Michelle Kennedy and former Slack exec April Underwood.