Pearpop raises $18M at a $300M valuation to scale its social collaboration marketplace

Pearpop raises $18M at a $300M valuation to scale its social collaboration marketplace

Pearpop, a marketplace for social collaborations, announced today that it has raised an extension to its 2021-era Series A funding round. The company has added $18 million to its Series A, bringing its valuation to $300 million. Since its launch in October 2020, Pearpop has raised $34 million in funding.

The new investment includes funding from Ashton Kutcher, Guy Oseary’s Sound Ventures, and Alexis Ohanian’s Seven Seven Six. The round was also attended by Blockchange Ventures and Avalanche’s Blizzard fund. C2 Ventures was also involved.

Pearpop allows creators to purchase collaborations with stars like Madonna or creators like SommerRay. These influencers and celebrities can sell the chance to collaborate on TikTok. They can also run “challenges” where people are asked to post using a specific prompt on TikTok and Instagram to earn cash rewards based on engagement milestones. Pearpop has attracted many brands such as Amazon, Chipotle and Rakuten, Universal Pictures and Sonos, Beyond Meat, and celebrities like Madonna, Shawn Mendez, Doja Cat, and Shawn Mendez.

“We’ve reached a critical mass on the creator side, as we now have more than 200,000 on our platform,” Pearpop CEO and founder Cole Mason told TechCrunch in email. “We’ve paid out over $10 million to creators, and we’ve been proud to see how Pearpop has opened up an opportunity for creators without a massive following: 71% of earnings have gone to creators with under one million followers.”

Mason said that Pearpop will use the new funding to increase hiring, improve the platform’s functionality, establish sales partnerships, and more.

” We’ll use the funding to increase our tech and engineering hiring. As our product features get more advanced, and we leverage intelligence in new ways our industry haven’t seen, Mason stated. “We’ll continue to build a strong sales team and partnerships team capable attracting and partnering some of the most iconic brands in the world .”



Image Credits: Pearpop

Pearpop has also announced that it will launch two new products, Ovation and Passport.

Ovation is a new product from Pearpop that allows brands to turn customers into advocates. This product allows brands to mobilize targeted audiences who have previously engaged with a product. Mason states that every brand wants to encourage their communities to advocate for their cause, and Ovation allows this to happen. Customers will also be able to monetize social media.

Passport uses Blockchain technology to provide creators visibility across audience engagement across multiple sources and platforms to enable brands to understand creator impact. Mason said that Passport is a reflection of Pearpop’s belief in the centrality of data for the growth and development the creator economy. The platform will continue to invest in data to support creators and brands.

Earlier this year, Pearpop launched Pearproof, a web3 app that allows creators to mint NFTs of their social media posts. Pearproof’s NFTs are based on a proprietary algorithm that allows assets to gain value when a post receives more social engagement. These NFTs begin at a “vinyl” level on a Tier system that Pearproof created. The NFT can become more popular and “level up” to platinum, silver, gold, and other levels. These levels can be assigned rewards by the creator. The project leverages the Solana blockchain, which Pearproof chose for its low transaction costs and lesser environmental impact.

Pearpop announced $16 million in funding in April 2021, which was split between a $6 million funding round co-led by Ashton Kutcher and Guy Oseary’s Sound Ventures and Slow Ventures, with participation from Atelier Ventures and Chapter One Ventures; and a $10 million additional investment led by Alexis Ohanian’s Seven Seven Six with participation from Bessemer.

” We have plenty of ideas in our roadmap to help Creators make a living doing what we love,” Mason stated. “Our long-term vision is to continue to unlock the value of every social media user on the planet, while setting the standard for collaboration and creator monetization.”

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