Chirpify, the social commerce platform, today announced that it has added an additional $4 million in funding to its series A round, bringing the total round to $6 million.
New investors include Saturn Partners, Provenance Ventures, "the hoops whisperer" Idan Ravin who has trained NBA stars like Carmelo Anthony, Chris Paul, Dwight Howard and Kevin Durant, former Interscope Geffen A&M Vice Chairman David Cohen, and more. They join previously announced investor Voyager Capital, which contributed $2 million to the series A.
"Chirpify has shattered the 'traditional' engagement rates on social media by creating posts that are actionable," said Saturn Partners General Partner Bob Chicoski. "The same technology can have a similar impact on the way people make transactions in real-world settings. We're excited to be working with a company that continues to break new ground in commerce."
Chirpify intends to use the new capital to extend the applications of the company's social commerce platform into new markets and new cross-channel promotions. The company's new offerings -- which will be available in the next few months -- will leverage its proven technology to enable live event and TV conversions.
"Chirpify's new investors are highly strategic as they provide expertise in vertical markets that we consider to be perfect targets for our technology -- including sports, music and media," said Chirpify CEO Chris Teso. "We see a tremendous opportunity to leverage social as the point of conversion for our clients' cross-channel campaigns."
With Chirpify, all that's needed to buy, donate or get a free item on social networks is either a reply or comment of "buy," "donate" or "gimme." Chirpify is adding over 300 new users every day and touts a 4 percent conversion rate. Since launching in 2012, dozens of the world's most recognizable brands -- enterprise, consumer and music like adidas, MasterCard, the Portland Trailblazers, Green Day and RCA Records -- have leveraged the Chirpify platform to generate in-stream transactions on the three largest social platforms of Twitter, Facebook and Instagram.
- Today's announcement brings the total raised by Chirpify to date to $7.3 million. Voyager Capital, angel investors Geoff Entress, BuddyTV CEO Andy Liu, former Facebook executive Rudy Gadre, HootSuite CEO Ryan Holmes, and TiE Oregon Angels invested in the company's seed round, and some re-invested in this series A round.