Ambassador, a referral and relationship marketing technology company, today announced the infusion of funding, both equity and debt financing of $1.4MM from existing independent investors and Sage Growth Capital. The new funding will support the company’s plans to be an end-to-end solution for the growing influencer and relationship marketing industry, ultimately positioning Ambassador as the de facto marketplace where brands and influencers can connect and do business.
The adoption of influence-driven marketing strategies and marketing solutions shows no sign of slowing, and according to Forbes, the creator economy in 2022 has a market size of $100BB. Ambassador’s latest infusion of new capital and debt equity speaks to the company’s larger mission to transform how digital customer acquisition is achieved, so brands can tap into and leverage the communities of their most happy customers to drive awareness and business.
“Today’s funding helps us push Ambassador to become a bigger part of the digital marketer’s arsenal, so we can continue to affect every part of customer engagement, from referral to incentives, loyalty to influence, and ultimately, towards creating a marketplace where brands and ambassadors can collaborate,” said Geoff McDonald, CEO at Ambassador. “We are thrilled to be partnering with our investors, advisors, and Sage Growth Capital to bring this vision to life. Sage’s innate understanding of the industry, coupled with their growing portfolio that connects the different aspects of the customer lifecycle, makes them an ideal partner for us.”
As one of the earliest SaaS solutions in its space, Ambassador technology is easily configurable so brands and advocates can strategize, create, execute, and refine from a single platform. What results is a win-win-win: Brands get access to customers that have a higher chance of converting; brand ambassadors can make a considerable income working with brands; and customers get access to deals and referral promotions they otherwise wouldn’t have.
“Leading global business at the executive level for 40+ years, I’ve been involved in a lot of deals and many companies. When most new companies are successful is if they focus on revenues and becoming cash flow break-even and positive,” said Archibald Cox. “Ambassador has been focused on that since inception and continues to execute on their strategy of building the first Customer Acquisition Marketplace.”
“We were particularly impressed with Ambassador’s ability to track and attribute customer referrals and their behind the scene accounting management,” said Molly Otter, Investment Partner at Sage Growth Capital. “The Sage team is delighted to partner with the Ambassador team to help them take advantage of current opportunities for growth.”