US-based sales services platform developer Drum has emerged from stealth with $11m in seed capital from investors including American Express Ventures, the corporate venturing arm of payment services firm American Express.
The round included Propel Venture Partners, the venture capital firm established by banking firm BBVA, in addition to Felicis Ventures, BlueRun Ventures, GroTech Ventures, Wildcat Venture Partners, BoxGroup and SV Angel.
Drum runs a platform that enables brands and businesses to leverage marketing services using members who promote the clients through their personal network in return for payment.
Harshul Sanghi, managing partner at American Express Ventures, said: “Drum unlocks a three-sided marketplace connecting any business to the customers they want through an on-demand network of salespeople.
“This has the potential to dramatically accelerate new product introduction and customer acquisition for businesses. Amex Ventures is pleased to support Drum in its future growth.”
