Fanzy Raises $550k Financing Round From Kima Ventures, Start Capital And Orefa To Ramp Up Enterprise Business New financing brings total raised to $1.5M
SAN FRANCISCO, March 26, 2013 /PRNewswire-iReach/ -- Fanzy, a Saas social loyalty platform used by 25,000 brands, announced today the completion of a seed financing round with investment from Kima Ventures (Rapportive, Sparrow), Start Capital (State.com, Senzari) and OREFA, the investment fund of Jacques-Antoine Granjon, the founder of the billion dollar e-commerce company Vente-Privee. The funds will be used to scale-up Fanzy's enterprise business. The new funds together with Fanzy's previous angel financing brings the company's total financing to over $1.5M.
"As we've scaled, Fanzy has learned how to solve some massive and fundamental problems for large enterprises, including how to engage hundreds of separate social fan bases simultaneously" said Fanzy Co-Founder Tuhin Roy. "Implementing Fanzy as an enterprise wide social loyalty solution drives significant savings across our clients' social marketing budgets."
Fanzy will use the newly raised funds to continue building its solutions specifically for larger companies, and to scale-up its sales team focused on the Fortune 1000 in the US and large companies abroad. More than 20 Fortune 1000 companies have already used the Fanzy platform.
"Fanzy's strong traction with brands reflects Jeff and Tuhin's powerful vision about how to generate social word of mouth buzz," said Jeremie Berrebi, Partner at Kima Ventures. "Kima has invested in a significant number of social marketing start-ups and we are strong believers that Fanzy has got the right offering at the right moment."
"Fanzy is a great idea from a great team," said Paolo Rubatto, founder of Start Capital. "We look forward to working with Jeff and Tuhin as they extend their early traction to build out the enterprise side of their business."
Fanzy is a Saas social loyalty platform. Fanzy gamifies the experience of being a fan by rewarding fans for their social activity around brands, TV shows, films, celebrities, sports teams, athletes and more. As Fanzy members generate buzz for a brand, they unlock real life rewards, social achievement badges and are added to a leaderboard for each Fanzy they join based on Fanzy's proprietary FanScore influence measurement.
SOURCE Fanzy, Inc.