If You Are Going to Raise Armies of Advocates, it Helps to Have an Army of Incredible Investors On Board

Today we are proud to announce our seed preferred round of financing.  It is a remarkable seed round by any measure.

First, the size: a total of $3.75M, which is 2x to 5x the size of a typical seed round.

Second, the army: 11 VC firms, including some of the best early-stage, B2B enterprise specialist and mobile specialist firms out there.  Add to that the renowned angel federation of CommonAngels and 10 individual angels, some of the most connected and knowledgeable technology entrepreneurs that I know.

Third, the scope: Our investors are from Silicon Valley and the Northeast, our home base of Toronto, Europe and Asia.

James Geshwiler, CommonAngelsAs part of this round, we are also thrilled to welcome James Geshwiler, Managing Director of the CommonAngels, on to our Board of Directors.  James is a tireless customer, supporter and advocate of Influitive, advocate marketing and Friends of CommonAngels, the CommonAngels’ AdvocateHub.

So, why did we raise a round like this?
We have big ambitions.  Advocate marketing may not play the leading role in marketing operations today, but we feel that is going to change dramatically over the next few years.  We want to make sure that we have the fuel that we need to capitalize on the opportunity, and generate positive cash flow from operations and/or attract a materially larger round of financing 18-24 months from now.

We also have a large number of interested advocates helping us grow our business; referring Influitive, referencing Influitive, and providing useful advice on our strategy and operations.  We believe that there is strength in numbers if you have the processes and technology to manage them.  And – we do.

_-91The AdvocateHub proved just as useful in harnessing the combined power of an investor syndicate as it is for harnessing customer advocates.

Our ambitions are global, and we have investors in each of our key markets around the world to help us establish and scale operations.

How were we able to raise a round like this?

Our team members and our advocates made it possible.

Our team has been focused on one objective – producing advocates for our company and for the AdvocateHub product.  As of this writing, we do not have a single employee full-time in marketing or sales.  We had a theory that if we just produced a great product and mobilized our advocates, we would build the kind of business that would attract the visionary customers and the capital that we needed, and we were right.

As proud as I am of the Influitive team, it is our amazing advocates that deserve the lion’s share of praise and thanks.  The Influitive VIPs have connected us to some of the best investors, and in some cases have invested directly in our company.  They spent countless hours advising us on our strategy, processes and technology.  They promoted us to the right kind of customers, and ensured that they too became advocates for our cause, ideas and technology.

Thank you, Influitive friends and advocates.  We look forward to many years of exploring the potential of this great medium for growing businesses quickly and profitably.

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