Since we launched Drop back in January 2020, social commerce has continued to expand into the forefront of marketing and sales strategies for hypergrowth DTC brands. We see it everyday with our users, who have so graciously taken a step into the new era of engagement and have decreased their cost-per-aquisition and a boosted ROI.
Alongside the success of our early adopters, we are so excited to formally announce the closing of our $5.5M funding round led by Speedinvest with participation by Motier Ventures, Kima Ventures, Exponent Capital and business angels Nalden from WeTransfer, Anthony Bourbon from Feed and Thomas Rebaud from Meero. We are so humbled by this group of industry leaders who have committed themselves to supporting our mission.
This new round has allowed us to grow our team from 6 to 20, and we’ve hit the ground running building a new iteration of our platform, onboarding new brands like ASICS, Pangaia and Hot Topic, while constantly refining our go-to-market strategy.
Alongside us and the industry at-large, our VC’s are sending a strong signal that massive disruptions are expected for DTC brands of all sizes, and that a transition from traditional e-commerce to social commerce is more relevant than ever. Fashion media powerhouses like WWD are also already picking up on these trends, laying out their thoughts on Drop’s initiatives and the ecosystem in general.
With Q4 here, we know our job is to steer this boat in the right direction, ensuring we don’t lose sight of the bigger picture.
We want to bring brands into the next era of commerce, one that lives on social. We want our brands to be able go to their audiences, instead of trying to pull them somewhere else. We want our brands to be able to own their conversations while learning, growing, and maximizing their efforts to the fullest potential.
If you’ve gotten this far, we thank you. You are obviously invested in this journey one way or another, and we are so excited to move forward in reaching our goals, together.
