Flocktory, a Moscow, Russia-based social referral marketing solution for online retailers, closed a $1.5m Series A financing round.
The backer was Digital Venture Partners.
The company intends to use the capital for continued product development of its platform and expansion of the team to accelerate business development.
Led by Simon Proekt, Founder and CEO, Flocktory has developed a SaaS B2B solution that allows e-commerce companies to target the most influential customers with an optimized messaging and incentive mix and engage them to recruit their friends to the store (via social networks, and if their friends make a purchase then both will receive a reward).
The company currently has over 200 clients including Svyaznoy, S7 Airlines, Lamoda, Oktogo, Shoptime, and Groupon.