Estonian startup Modash has secured €11M in Series A funding, led by Dutch venture capital firm henQ, known for backing unconventional companies. The startup is innovating influencer marketing by focusing on smaller, more specialised content creators rather than major influencers.
Modash is also a showcase story of an Estonian tech marvel. The startup’s journey began in Tallinn, where Canadian-born Avery Schrader relocated after reading about the country’s emerging tech scene. There, he met his co-founder and CTO, Hendry Sadrak, and built connections with the local tech community. Today, nearly half of Modash’s team comes from Estonian tech giants like Bolt, Pipedrive, and Wise. “Tallinn proved to be a great launchpad,” writes TechCrunch. “To the Estonian ecosystem – we love you!” says Schrader. Last year, he won the Foreign Founder of the Year title at the Estonian Startup Awards.
According to him, what sets Modash apart is its contrarian stance in a sector that has largely fallen out of favour with investors. While competitors like CreatorIQ and Upfluence concentrate on high-profile influencers, Modash has built a platform that analyses public data to connect brands with creators from a vast pool of 250 million individuals, regardless of their follower count.
The company’s core thesis is that smaller, niche content creators often generate higher engagement rates and more authentic connections with their audiences. This approach aims to address the growing scepticism around traditional influencer marketing, where big-name creators are paid substantial sums to promote products.
Modash’s platform stands out by not requiring creators to sign up, which has helped the company scale more effectively than traditional marketplace models. The solution offers brands an end-to-end platform for discovering creators, analyzing campaign performance, and managing payments, with pricing starting at $199 monthly.
“The creator is the atomic unit of the internet,” explains Schrader, who, at 26, has already established himself in Estonia’s tech ecosystem. “Whatever you immediately think of when you think ‘influencer’… that’s not our focus. We support the small creators doing the weirdest stuff, talking about the things they really love.”
The company has grown from 25 to 60 employees this year, with plans to cap headcount at 99 in the coming year. The new funding will support enhanced data engineering capabilities for AI-powered discovery features, expansion of customer-facing operations in North America, and e-commerce integrations.
Estonia is still at the centre of these ambitious plans. As Modash prepares for its Series B round, the company maintains its headquarters in Estonia while establishing a stronger presence globally.
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