8 years ago

Verve Secures $18.5 Million to Fuel Growth of Advocacy-Based Sales Platform

  • Verve, a UK startup previously known as StreetTeam, has secured $18.5 million in Series B funding led by Draper Esprit

  • The company provides a sales platform enabling brands to run advocacy programs, leveraging existing customers as brand ambassadors

  • Verve's platform simplifies the process of creating and managing rewards programs, allowing customers to earn incentives for referring new clients

  • The funding will be used to expand the product, hire developers, and drive international growth

  • Verve plans to expand into other markets in Europe and explore new product categories beyond live events, such as travel

  • The company believes their platform effectively converts potential customers into actual buyers by tapping into the power of word-of-mouth marketing.

      • ProblemTechnology

      "Traditional advertising is becoming increasingly ineffective and people are more likely to trust recommendations from friends and family."

      Solution

      "Verve provides a platform for brands to run advocacy programs that incentivize existing customers to recommend products to their friends and family. These programs make it easy for customers to sell tickets to events and earn rewards for doing so."

      Covered on