Claim Raises $12 Million to Connect With Gen Z Shoppers
Summary
Claim, an app that helps shoppers find and use promotions at stores, has raised $12 million in Series A funding.The funding was led by VMG Technology and also includes previous investors Sequoia Capital and Susa Ventures. Apple, Google, and Metas shifts towards privacy have made it harder and more expensive for performance marketers to find ways to reach potential customers, said Sam Obletz, Claims cofounder and CEO.Obletz wouldnt share how many monthly active users the app has but the user base heavily skews toward college students. When the offer is used, Claim detects the transaction, and consumers are sent cash back via payment app Venmo.Brands including Sweetgreen and Chubbies pay Claim to feature their products and are charged when someone redeems a promotion.Theres also a social component that allows users to swap promotions with each otheras long as the promotion they want is from a brand they havent previously tried.The idea is to show brands that new, Gen Z customers bought from their brand using transaction data gleaned from the app, Obletz said. Obletz said that brands pay to be featured in Claim from brand-focused budgets used to target Gen Z consumers like social media. Brands also pay using budgets created for opening new stores.Gen Z has a love-hate relationship with social mediaits where life happens but people are really tired of it, Obletz said.