SAN FRANCISCO, October 14, 2021 / PRNewswire / – SparkPlug Announced $ 2.5 million in seed funding led by a mix of venture capitalists, angel investors and renowned business leaders to support winning industry disruptors, bringing their total capital raised to date to $ 3.5M. SparkPlug was the top ranked company out of the highly competitive LAUNCH accelerator, with seed investors including TenOneTen Ventures, Jason calacanis, and Argonautic Ventures; co-founders of Shift, Applied Semantics, Social Native and Factual; and executives from Foursquare, DoorDash, Xerox PARC and Facebook.
Minnie ingersoll, TenOneTen Xvideos Red partner, notes that “it was obvious to us. Brick-and-mortar retail is a huge changing market – brands need new avenues of profitable expansion and retailers are struggling to find a model that can support them and their workers while facing COVID headwinds and historic labor shortages. SparkPlug addresses these issues simultaneously by enabling frontline workers to monetize their sales performance on behalf of mainstream brands.
SparkPlug is an employee campaign and rewards management platform designed to increase revenue and retention rates for the traditional restaurants, retailers and consumer goods companies they work with. The founders created SparkPlug so that mainstream brands could redirect their marketing investments from increasingly crowded and expensive digital and traditional advertising channels; instead, allowing them to offer automated commissions, rewards, and profit-sharing opportunities to retail employees based on sales performance.
SparkPlug strives to enable simple-to-run and easily scaled-up campaigns for consumer brands and their retail partners, with the goal of improving brand sales, worker compensation and retailer revenues. in entire sectors.
SparkPlug is leveraging this round of capital to enhance its product offering and expand its engineering and sales teams, ultimately supporting their deployment in multiple consumer product verticals to help address one of the world’s worst shortages. labor force that the United States has known in 20 years; There are half as many workers available as there are vacancies, with the hospitality and retail sectors being the hardest hit.
“Funding Comes at a Critical Time,” Says SparkPlug CEO and Co-Founder Andrew duffy. “The job crisis has left restaurants and retail stores struggling to attract and retain enough in-person workers, making it even more difficult to generate the sales they need to survive. Frontline workers in the pandemic are frustrated, tired and in need of a better pay package that allows them to sign up and stay. SparkPlug turns these two challenges into huge opportunities for retailers, restaurants and consumer brands.
SparkPlug investors are backing the business at the same stage they have backed billion dollar startups including Uber, SpaceX, RobinHood, Wish, Calm, Desktop Metal, Goodreads, Medium, Thumbtack, Trello, Tumblr, and Zenefits. They chose co-founders Jake levin and Andrew duffy, with the rest of the SparkPlug team, to revolutionize the $ 20 trillion global physical retail market at the most critical time in its history, while advancing a mission to help workers around the world achieve fair compensation and recognition for their work.
The company is on track to meet this goal: over the past 12 months, the brands on SparkPlug have collectively distributed over $ 500,000 in additional income for front-line employees.
To learn more about SparkPlug’s mission and the founder’s take on the challenges facing the retail and restaurant industry, visit https://sparkplug.app/journal. To request an interview with Andrew duffy Where Jake levin, contact Sylvie Kindlain To [email protected].
SparkPlug is an employee campaign and rewards management platform designed specifically to increase revenue, retention rates and marketing ROI for traditional restaurants, retailers and the consumer goods businesses with which they working. Companies using SparkPlug can inspire frontline workers and in-store sales staff to influence buying results by running sales-based commission and rewards campaigns. The Tche SparkPlug platform provides real-time campaign data to mainstream brands and retailers on current products and promotions, while providing an additional revenue stream for workers. Launched in March 2020, SparkPlug has already delivered more $ 500,000 in additional income for hourly front-line workers, sponsored by consumer brands whose products that in-store workers put directly into the hands of consumers. Visit sparkplug.app to learn more.
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