- On-demand network sales force platform Drum announced it raised $11 million in seed funding from a number of prominent investors
Drum, an on-demand network sales force platform, announced it has raised $11 million in seed funding. The investors in this round include Propel Venture Partners, Felicis Ventures, BlueRun Ventures, American Express Ventures, GroTech Ventures, Wildcat Venture Partners, BoxGroup, and SV Angel.
“Now, standing up a sales force is easier than launching a Google AdWords campaign,” said Rob Frohwein, the co-founder and CEO of Drum. “With Drum, businesses of all types, from digital brands to local small businesses, can launch sales efforts in any geography, in real-time, giving them a sales boost where, when and how they want.”
Drum’s platform utilizes the power of the gig economy to give companies a new channel for customer acquisition to help them scale and compete. And businesses now have a compelling alternative to traditional advertising and digital marketing through which they are able to more easily measure success and pay for conversions rather than clicks. Businesses also have access to gig contractors through Drum (known as Drummers) — who can promote their products and services within and outside of their personal network while generating income.
Drum’s founders include Frohwein, Kathryn Petralia, and Troy Deus. Frohwein and Petralia previously founded Kabbage where they are continuing to steer the leading data and tech company that is known for offering automated cash flow solutions to small businesses. So far, Kabbage provided over 200,000 small businesses with access to almost $8 billion in working capital.
Recently, Drum launched an optimized browser experience for businesses to promote products and services at the drum.io website and via iOS and Android apps for Drummers. In the first month, Drum will focus on filling the ecosystem with Drummers and offers from businesses in its first two cities of Atlanta and New York. And the buyer application launches in mid-October — which enables the three-sided market to fully function in these geographies.
“Drum unlocks a three-sided marketplace connecting any business to the customers they want through an on-demand network of salespeople,” added Harshul Sanghi, a Managing Partner at American Express Ventures. “This has the potential to dramatically accelerate new product introduction and customer acquisition for businesses. Amex Ventures is pleased to support Drum in its future growth.”
