Crowdtap is a brand advocacy startup that connects brands with consumers to inspire the creation of quality content. The startup is announcing that it has raised a $5 million Series B round of funding.
In 2011 Crowdtap announced its $7 million Series A round, so when the company raised less funding for its Series B you would think it’s because that’s all they could raise, CEO and co-founder Brandon Evans says they raised that amount because it’s all they need.
The startup became profitable in Q4 of 2013, tripling its monthly revenue in just one year, so raising more money than they needed to makes little sense.
Crowdtap now has 55 employees, and works with brands such as Sony, Nestle, Kraft, P&G, AT&T, and Clorox.
The company can help brands locate fans who have influence, and inspire them to post promotional content on blogs, and social networks such as Facebook and Twitter where they can introduce new promotions or products.
Crowdtap has created its own consumer community in order to help brands accomplish just that. Brandon Evans says having a community of consumers is key for keeping users consistently engaged.
Brands can spark conversations with Crowdtap, educate and engage with their fans, and scale content creation by leveraging Facebook posts, tweets, blog posts, pictures, and videos.