Claim

Claim

Social shopping platform with cash-back rewards

About Claim

Simplify's Rating
Why Claim is rated
B-
Rated D+ on Competitive Edge
Rated A on Growth Potential
Rated B on Differentiation

Industries

Consumer Software

Financial Services

Company Size

51-200

Company Stage

Series A

Total Funding

$18M

Headquarters

Boston, Massachusetts

Founded

2021

Overview

Claim is a social shopping platform designed to help brands attract and keep loyal customers. It uses real-time purchase data and offers cash-back rewards, known as Claims, to encourage Gen Z consumers to visit their favorite restaurants, coffee shops, and brands. Users earn cash back when they make purchases at partner brands, making shopping and dining out more rewarding. What sets Claim apart from its competitors is its pay-per-acquisition model, which allows brands to replace traditional advertising with rewards, providing a risk-free way to grow their customer base while ensuring real engagement. The goal of Claim is to create a platform where brands can connect with the next generation of consumers through meaningful rewards.

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Significant Headcount Growth
Simplify Jobs

Simplify's Take

What believers are saying

  • Raised $12M Series A to expand and innovate in social commerce for Gen Z.
  • Riding the trend of social commerce, projected to grow 31.4% annually.
  • Reward-based strategies increase user retention, similar to successful apps like Sweatcoin.

What critics are saying

  • Faces competition from established platforms like TikTok and Instagram targeting Gen Z.
  • Potential privacy concerns from Gen Z users aware of data usage.
  • Dependence on continuous funding, risky if future rounds fall short.

What makes Claim unique

  • Claim combines social networking with reward-based engagement for unique user experiences.
  • Focuses on Gen Z, leveraging their preference for social commerce and shoppertainment.
  • Integrates blockchain technology to enhance transparency and security in reward systems.

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Funding

Total Funding

$18M

Meets

Industry Average

Funded Over

2 Rounds

Notable Investors:
Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Below Average

Industry standards

$15M
$8.2M
Discord
$12M
Claim
$15M
Canva
$30M
Kalshi

Benefits

Health Insurance

401(k) Retirement Plan

401(k) Company Match

Paid Vacation

Hybrid Work Options

Professional Development Budget

Growth & Insights and Company News

Headcount

6 month growth

↑ 1%

1 year growth

↑ 18%

2 year growth

↓ -1%
Business Wire
Oct 9th, 2024
Claim Raises $12M Series A Led by VMG Technology to Reinvent Brand Discovery for Gen Z Consumers

Claim, a viral social app transforming how Gen Z discovers brands, today announced a $12 million Series A funding round led by VMG Technology, with pa

Brightreach
Oct 9th, 2024
Claim Secures $12M Series A to Revolutionise Social Commerce for Gen Z

Claim, a groundbreaking social commerce platform, has announced its $12M Series A funding round led by VMG Partners.

Cavil Consulting
Dec 20th, 2023
Claim, a social network that lets users earn and trade rewards with friends, raises $4M

Claim, a social network that lets users earn and trade rewards with friends, raises $4M.

TechCrunch
Dec 20th, 2023
Claim, a social network that lets users earn and trade rewards with friends, raises $4M | TechCrunch

Claim, a platform that is both a rewards app and a social network, has raised $4 million in a seed funding round led by Sequoia Capital

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