Summit Backs Influencer Firm Mavrck as Creator Economy Awakens

Private equity firm Summit Partners has provided growth capital of $120 million to influencer marketing software startup Mavrck, a sign the advertising industry is increasingly looking to tastemakers and social media stars as the creator economy continues to grow during the pandemic.

The valuation of the Boston-based company wasn’t disclosed. As part of the deal, Summit Partners’ Michael Medici and Sophia Popova, managing director and principal, respectively, have joined Mavrck’s board, according to a statement provided to Bloomberg News.