Claim, a San Francisco, CA-based social network that connects friends through their favorite brands, raised $4M in seed funding.
The round was led by Sequoia Capital with participation from Susa Ventures, BoxGroup, 6th Man Ventures, Reflexive Capital, A* Capital, GSW Ventures, The Kraft Group, Theia, Luke deWilde, and many others.
The company intends to use the funds to expand operations and its development efforts.
Co-founded by Sam Obletz, CEO, and Tap Stephenson, CTO, Claim is a new way for friends to connect and for brands to reward their customers. On it, friends earn cash back, exchange rewards, and redeem together by shopping at their favorite brands. The result is a social network that focuses on real-world value, authenticity, and communal experience — rather than manufactured content and reposts. Here’s how it works:
- Claim profile is based on where clients shop. It uses verified transactions on linked credit card, so in a world of sponsored posts, the status on Claim actually means something.
- The way to interact on Claim is via “multiplayer rewards.” People can exchange rewards, try new places together, and earn status from spending at brands.
- Drops on Claim happen once per week. During a drop, everyone on Claim unwraps a new reward at the same time, and decides whether they want to redeem it, gift it, or trade that reward with eligible friends. If they decide to redeem, the process is completely frictionless — just swipe credit card, and Claim sends you cash back on Venmo.
Today, they’re working with brands ranging from the Fortune 500 (PepsiCo), to upstart direct-to-consumer fashion brands (For Others), to fast-casual restaurants (Life Alive), and more.
FinSMEs
21/12/2023