Summit invests $120m in influencer marketing platform Mavrck, Percheron invests in Caliber Cash Wash

Percheron Capital agrees to take a majority stake in Caliber Car Wash.

Morning!

Are you an influencer?

I confess I’m of a generation that is less likely to be influenced by an influencer on a social media platform. I’ll venture to say that I don’t really get it … I once tried watching some fishing influencers to get ideas for new equipment come spring but just got bored and eventually gravitated to watching old Led Zeppelin live performance videos.

But, so what? Influencers are out there making all kinds of dough. And investment firms have recognized the opportunity in influencer marketing. Summit Partners this morning announced a $120 million growth investment in Mavrck, an influencer marketing platform for consumer brands.

The concept as described in Summit’s press release is “social proof”, or trust formed among a network of like-minded strangers online through a collection of experiences with a product. This has become a vital part of brand building for consumer products. The “creator” economy is estimated to be a $100 billion industry, the statement said.
Mavrkc was formed in 2014, designed to help brands build that trust with consumers.

“Influencer marketing has evolved dramatically from its earliest, celebrity-centric iteration. This investment will help us to take petabytes of historical data and build recommendation engines to connect enterprise marketers with the right creators, the right way, at the right cost,” said Mavrck co-founder and CEO Lyle Stevens in the statement.

Read more here on PE Hub.

Newbie stuff: Percheron Capital, a first-time fund we’ve been tracking here at the Hub, agreed to take a majority stake in Caliber Car Wash, an express conveyor car wash platform. Founders and co-CEOs Mac McCall and Danny York will remain significant equity holders and continue to lead the management team.

Eagle Merchant Partners will retain a minority interest in the company. Caliber Cash Wash has more than 50 existing or planned express conveyor cash wash facilities across the southeast and mid-Atlantic. Read more here on the Hub.

Percheron, meanwhile, closed its debut fund on $770 million earlier this year. Percheron was formed by ex-Golden Gate executives Chris Collins and Chris Lawler.

That’s it for me! Have a great rest of your day. Hit me up at cwitkowsky@buyoutsinsider.com or over on LinkedIn.