Flocktory referral marketing platform raises $1.5M

Flocktory referral marketing platform has raised $1.5M of investment from Digital Venture Partners Fund. The funds will be spent on Flocktory’s business development and expansion of its specialist team, as well as on strengthening its leading position in the market.

Flocktory platform helps online stores to create an unlimited number of referral marketing campaigns. The service allows to motivate customers with cumulative or direct bonuses. Advertising campaigns can be associated with different segments, sets of goods and/or services in the shopping cart.

The number of marketing messages to the customer increases, but their efficiency falls off at the same time. This helps our project to develop dynamically, - Simon Proekt, Flocktory CEO says. - We have just begun to reveal the potential of the RuNet grapevine and what can be offered to the participants of Russia’s e-commerce market. Our clients can better understand the customer needs and, therefore, increase their sales and audience loyalty.

Flocktory Company became the first investment project of our foundation - the founder of Digital Venture Partners John Quinn says. - With the rapid growth of the RuNet and fierce competition, the e-commerce players need an effective marketing tool that will allow a better understanding of their customers. Flocktory referral marketing platform is just that tool.

Flocktory has more than 200 client companies including leading players in Russia’s e-commerce market: Svyaznoy, S7, Lamoda, Utkonos, Groupon, Shoptime, Oktogo, Trendsbrands, LitRes and others. The number of buyers who shared bonus offers with their friends on social networks via Flocktory exceeded 600K unique users in less than six months.

Digital Ventures is a venture capital fund established to take advantage of unique opportunities in those segments of the tech market in Russia and Ukraine, where old business models are being displaced by new innovative developments. Digital Ventures focuses on investments in enterprise software, which has the potential for rapid and significant growth given the effective use of financial resources.