Claim, a San Francisco, CA-based provider of a viral social app, raised $12M in Series A funding.
The round was led by VMG Technology, with participation from prior leads Sequoia Capital and Susa Ventures, as well as new investor Lightbank.
The company intends to use the funds to:
- Grow the team building out engineering, marketing, and operations to support rapid scaling and product development.
- Expand its merchant network adding more brands across industries.
- Reach new markets with near-term focus expanding on college campuses and begin off-campus expansion into major cities across the United States.
Led by CEO Sam Obletz, Claim is helping Gen Z discovers brands through weekly “Drops” that reward students for exploring new merchants, from food, to retail, to experiences. By combining data with social, real-world interactions, it connects brands with consumer bases.
For users, Claim creates opportunities to connect with friends. They compare what their friends received in The Drop, offer trades, and gift rewards to friends. When a user is introduced to a brand during The Drop, they can see which of their friends already shops there.
For brands, Claim inverts traditional advertising. Rather than paying for attention on Google or Meta, brands invest directly in customer acquisition by offering cash back to high-potential new customers.
FinSMEs
08/10/2024