CA-based Claim secures $4M in seed funding. This round was led by Sequoia Capital, and their previously unannounced $2M pre-seed led by Susa Ventures and BoxGroup. They will use these funds to grow their engineering team and bring Claim to new geographies.
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Investors, including Sequoia Capital (Josephine Chen and Jess Lee), Susa Ventures (Chad Byers), BoxGroup (Greg Rosen), 6th Man Ventures (Mike Dudas and Serge Kassardjian), Reflexive Capital (Sunny Parikh and Azhar Hussain), A* Capital (Kevin Hartz and Bennett Siegel), GSW Ventures, The Kraft Group, Theia, Luke deWilde, and many others.
Since launching Claim as an invite-only beta in January (4.8 star rating on iOS App Store), we’ve seen incredible traction with over 10k students across universities in Boston and thousands of customer acquisitions for brand partners. Building on this momentum, they plan to expand across the US next year.
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Advertising is broken. Acquiring new customers has always been hard, but recently it’s gotten much harder: the average cost to acquire a customer has more than tripled in the past decade; customer attribution is a black box; and cookies are dying in the smartphone age.
About Claim
Claim is a brand-new method for companies to thank their customers and for friends to stay in touch. Friends may shop at their favourite brands on Claim, trade rewards, and redeem together while earning cash back.
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Claim offers brands a risk-free way to attract and keep their greatest clients. Rewards from friends are how consumers find products on Claim, and for high-growth brands, this word-of-mouth match makes the ideal introduction—a friend’s reward is always preferable to an influencer’s advertisement.
