About Rhea Advisory
Rhea Advisory operates as an independent governance layer for affiliate and partner revenue — helping brands evaluate the economics behind performance before more budget, partners, or complexity are added.
Rhea Advisory was built from years inside the commercial mechanics of affiliate and partner revenue — where revenue is created, credited, negotiated, scaled, and sometimes overstated.
After years operating across the affiliate ecosystem, a consistent pattern became clear: performance often looks strong at the surface level.
But underneath, there is less certainty around what is truly incremental, where incentives are distorting outcomes, and whether partner structures are rewarding value creation or simply capturing conversion.
That gap has always existed. It matters more now.
Affiliate and partnership marketing are entering a more mature phase. Platforms are improving tracking, attribution, automation, and partner access. But better infrastructure does not automatically create better governance.
How Rhea thinks
Rhea’s work is grounded in a simple belief:
Partner revenue should be governed with the same rigor as any other material commercial system.
Rhea does not exist to make partner performance sound better.
It exists to help leadership evaluate it more honestly — so growth can scale on a more defensible base.
FOUNDER
I’m Elena Fraioli, founder of Rhea Advisory.
I’m an operator with 13 years of experience scaling multimillion-dollar revenue and managing client complexity across digital advertising, affiliate marketing, publisher commerce, mobile commerce, data partnerships, and ad tech.
After overseeing and scaling revenue across hundreds of brands, major publisher portfolios, marketplaces, and platforms, I saw how quickly performance can become fragile when growth is concentrated, incentives are misaligned, or decision-making is spread across too many stakeholders.
That operating experience shaped how I see partner revenue: how it gets built, how it scales, where it gets misread, and where stronger governance is needed.
I created Rhea to help leadership teams regain control over partner-driven revenue through greater clarity, structure, and defensible decision-making.
Rhea was built from operating experience — not theory.
Across these companies, I gained deep experience on how partner revenue scales across the full ecosystem — from commerce and mobile growth to publisher monetization, advertiser demand, data partnerships, and platform-led growth.
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At Button, I served as GM of the Full Service Network, scaling mobile affiliate revenue for loyalty publishers across major U.S. advertisers and affiliate networks.
I also led Button’s strategic Fetch partnership during its early growth, helping scale it into a multimillion-dollar revenue channel with 500+ brand partnerships.
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At Captify, I led U.S. business development and go-to-market data strategy, negotiating with major media publishers, data providers, and ad tech platforms to expand Captify’s data footprint.
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At Skimlinks, I built the U.S. account management operations from the ground up, scaling multimillion-dollar affiliate growth across 300+ leading U.S. brands and pioneering net-new flat-fee partnership models between Fortune 500 brands and major media publishers.
I served as a trusted operating partner to executive leadership and helped grow the U.S. business 7x through two acquisitions.
Why work with me
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I’ve spent my career governing complex revenue systems — identifying dependency risk, challenging comfortable narratives, and building decision frameworks that hold up under scrutiny.
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My work has often sat at the intersection of revenue growth, finance, partnerships, and executive leadership. I’ve made and defended partner investment decisions where the cost of being wrong was real revenue, internal trust, client trust, or all three.
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Leadership teams get an experienced operator who can pressure-test affiliate and partner growth, surface hidden economic risk, and help determine what is worth scaling, fixing, renegotiating, or stopping.
“I do not approach affiliate strategy as a consultant looking in from the outside. I approach it as someone who has been accountable for the revenue, the relationships, and the downstream consequences of partner decisions.”
Why “Rhea”
Rhea represents growth that is steady, grounded, and resilient.
That is the standard Rhea applies to partner revenue:
growth that is measurable
economically sound
and built to hold up under scrutiny
Rhea Advisory works with a limited number of brands where affiliate and partner-attributed revenue carries real commercial importance — and where leadership wants a clearer, more governed view of how that revenue is created.