StreetTeam locks down $10M to power ambassador programs for brands –
Summary
StreetTeam helps brands build, deploy, and manage large decentralized ambassador programs to sell more goods. The English company just closed a $10 million round led by Kindred Capital, Frontline Ventures, and Backed and managed to bring on a number of strategic investors including Universal Music Group, Saatchi Invest, and Peter Davies. The company was facilitating the sale of £15 million worth of goods and it became time to rebrand as StreetTeam and dial in a formal growth strategy. This meant hustling to build an on-boarding platform for brands that could manage new ambassadors and provide promoters with engagement data from the decentralized workforce. “Recommendations can help us to build stronger relationships.” The idea of not paying ambassadors may seem like a cheat, but Negus-Fancey argues that throwing money into the equation just generates excess spam and creates a disingenuous atmosphere.
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