Claim, a viral social app transforming how Gen Z discovers brands, announced a $12 million Series A funding round led by VMG Technology. Prior leads Sequoia Capital and Susa Ventures participated, as did new investor Lightbank.
Since launching at Harvard in 2023, Claim has expanded across the US, helping thousands of Gen Z shoppers discover new brands every day. During The Claim Drop, consumers are matched with a high-intent brand to try while also earning cashback directly to their Venmo accounts after making purchases. Claim has high penetration spanning more than 70 campuses nationwide and is poised to redefine how brands reach Gen Z.
Claim’s leadership team combines expertise in technology, marketing, and Gen Z culture, while featuring a platform that resonates with today’s socially-driven generation. And the team’s understanding of consumer trends has propelled Claim’s rapid growth since launch.
For users, Claim also creates opportunities to connect with friends, whether over a shared meal, fitness class, or finding a new brand to try. Each reward on Claim is social: users compare what their friends received in The Drop, offer trades, and gift rewards to friends. When a user is introduced to a brand during The Drop, they can see which of their friends already shops there.
Users describe The Drop as a ritual and a moment of delight in their week, with purple Claim screens blanketing campuses at 11am every Thursday. And when users see a friend with the same reward, they often reach out and go try a new restaurant, shop, or experience together.
For brands, Claim inverts traditional advertising. Instead of paying for attention on Google or Meta, brands invest directly in customer acquisition by offering cash back to high-potential new customers.
Claim’s community, secure first-party data, and user experience create a uniquely successful formula for brands to reach customers in 2024 and beyond. And at a time when cookies are declining, and it is harder than ever to understand a customer, Claim uses financial transaction histories to match potential superfans and prove incrementality at the transaction level.
For brands like Sweetgreen, Shake Shack, and Blank Street Coffee, Claim is a targeted customer acquisition channel to drive online purchases or hordes of in-store traffic. And Claim enables purchasing across existing channels (including in-person and online) without the need for any system integrations.
The new funding will help accelerate Claim’s growth as it scales its merchant network, expands across the US, and doubles down on its mission to enable authentic and social brand discovery. And Claim will use the Series A funding to:
1.) Building out engineering, marketing, and operations to support rapid scaling and product development.
2.) Adding more brands across industries — from dining to retail to experiences — and offering students even more opportunities to discover their new favorite brands and places.
3.) While this near-term focus is expanding on college campuses, Claim will also begin off-campus expansion into major cities across the United States.
KEY QUOTES:
“Gen Z understands the internet, and they do not want more ads. Instead, Claim gives users an authentic reason to try something new with a friend — it’s the spark to hang out and explore with someone in real life.”
-Sam Obletz, Claim’s co-founder and CEO
“Claim has been an incredible partner in helping us deepen our strong connection with Gen Z customers and fans. Our mission is to connect more people to real food, so we love teaming up with brands that share our passion for using innovative technology to make real, meaningful connections happen. Claim does exactly that, with a platform that drives real-world actions and genuine engagement.”
-Casey Lipton Rubinroit, Product Marketing Lead at Sweetgreen
“We believe Claim is solving a burning need for brands — attributable, reliable, and authentic connection with new customers in Gen Z. For marketers struggling with increasing CAC and low conversion via traditional marketing channels, Claim’s platform offers control and reliable engagement with young, culture-setting customers.”
-Sam Shapiro, Principal at VMG Technology
