ValuesCo (formerly Socialstack), a Los Angeles, CA-based Web3 startup powering community-driven rewards ecosystems, raised $2.7M in Seed funding.
The round was led by Flori Ventures, Metaweb Ventures, OWN Fund, and angels such as Celo President Rene Reinsberg and entrepreneur Richard Spanton Jr.
The company intends to use the funds to accelerate growth, expand operations and its business reach.
Led by Co-founder & CEO Andrew Berkowitz, ValuesCo is a Web3 technology and experience company that powers rewards ecosystems for good. The platform transforms marketing and community engagement into participatory experiences driving quantifiable impact and is used by brands, nonprofits and creators to inspire action that aligns value with values for the next gen. The app enables rewards ecosystems for communities – and time-bound activations launched by brands. Values empowers communities to design & launch a social token with no code or blockchain knowledge. Community members create wallets instantaneously with phone/email login and earn tokens by completing actions and submitting proof via photo/social media, scanning QR codes, and more. Tokens are redeemed for rewards like products, experiences, and digital collectibles.
The company focuses on several gaps in Web3: education, consumer adoption of Web3 wallets, hands-on support required to launch a social token, and real-world impact.
ValuesCo has been used by watersports brand Starboard to incentivize cleanup of 770,000 pounds of ocean plastic, AfrofutureDAO to drive $1.1 Million to African history preservation, Christie’s to launch a social token experience, and the first two nonprofits to launch rewards tokens – Gen Z-founded OneUpAction debuted at Billie Eilish’s 2022 tour. The startup has begun working with global advertising holding companies Publicis Groupe and dentsu on client concepts and projects. 43 of the top 100 brands have entered Web3 – including Nike & Reddit – with loyalty being the most common use case.
FinSMEs
27/01/2023