Startup SocialCrowd, Which Describes As The 'Fitbit But For Work,' Secures $2.5M In Funding

Raphael Akinsipe has secured new funding for his startup, SocialCrowd.

Launched in 2022, SocialCrowd allows workers to track their goals and receive reminders for remaining tasks. According to their website, users are also rewarded for meeting their objectives. Akinsipe describes the company as the “Fitbit for work,” as noted by TechCrunch.

“For example, we had a restaurant incentivize their staff by rewarding them $1 for every five daily specials sold,” Akinsipe told the outlet. “And in 90 days their sales grew 490%.”

Initially, SocialCrowd targeted restaurants, but it later expanded its focus to blue-collar industries such as retail and manufacturing. As a result, the company has seen a monthly growth rate of 20%, TechCrunch also reported.

After a recent $2.5 million funding round led by Bread and Butter Ventures and Augment Ventures, with additional investors including  FullCircle, Serac Ventures, and VC414, SocialCrowd plans to expand into new industries.

This comes after a $1.6 million raise earlier this year, which was also led by Bread and Butter Ventures.

“We have seen incredible growth across verticals, we knew we would need to expand our engineering, customer success, and sales,” Akinsipe explained, according to TechCrunch.

Akinsipe also mentioned, “We had incredibly strong interest in our round from top-flight investors. We were able to close our round in just a couple of months. Our team has demonstrated a strong ability to execute on product and sales.”

Mary Grove, managing partner of Bread and Butter Ventures commented:

“We have remained bullish on ‘the future of work’ as a category throughout the fluctuations of the market and remote vs. in-person cycles of the last few years. One area, in particular, we see with huge potential to invest in is technology that improves worker and employer experiences for frontline and shift workers, a group that is hugely important to the backbone sectors of the US and global economy. SocialCrowd is a great example of a company building at the core of this opportunity.”