Crowdtap Raises $7M in Series A Round, Plans New Hires
New York’s Crowdtap said in a press release today that it has raised $7 million in a Series A funding round led by Foundry Group. Crowdtap is an online network that lets marketers of brands—including Old Navy, Adidas, Pepperidge Farm, Pinkberry, and Bing—reach out to targeted groups of consumers for word-of-mouth marketing. The consumers who participate receive incentives like gift cards or donations to their charity of choice. Other investors participating in the funding round include GSA Venture Partners and Mr Youth, a marketing agency which previously provided Crowdtap with $3 million in seed funding. Crowdtap says the new funding will go towards hiring in sales, engineering, and other jobs.