Toronto based Tribe Technologies announced a $ 7.5 million seed funding round, which closed in November, as the startup looks to expand its online customer community platform for SaaS businesses.
“We believe that any business should be able to create something similar to Facebook, LinkedIn or Clubhouse for their brand with just a few clicks.”
Bessemer Venture Partners and CRV led the round, with participation from Inovia Capital, Golden Ventures and Path Ventures. About $ 1.5 million of seed funding has been spent so far. The startup has focused capital on creating a new and improved version of its platform, which was recently released publicly. With $ 6 million still in the bank, Tribe Technologies is now looking to improve the scalability, customization, and scalability of its platform.
Tribe aims to help SaaS companies launch brand-led online communities and engage customers. The startup’s platform allows businesses to build a stand-alone community website to take the pulse of their customers, offer support, and facilitate knowledge sharing.
âWe believe that any business should be able to create something similar to Facebook, LinkedIn or Clubhouse for their brand with just a few clicks,â said Tribe Technologies CEO Siavash Mahmoudian.
Tribe’s offering consists of two elements. The first is a main platform that offers features like member management, moderation, analytics, and security. The second is a set of modular apps that can be installed on top of the main platform to help businesses create and manage events, Q&A, ideation, voice chat, and messages.
The company also offers apps that integrate with popular software solutions, such as Zoom, Salesforce, and HubSpot.
Tribe was founded in 2018 by Mahmoudian, CPO Soheil Alavi and Mohsen Malayeri, all of whom are immigrants to Canada from Iran. Mahmoudian previously led Breezio, which also operates in the community engagement space. He told BetaKit that after reuniting with its two co-founders, the team collectively created the software that Tribe now offers.
âBuilding an online community is less about technology and more about building a network and a sense of belonging,â said Mahmoudian. âYet many businesses have to spend a tremendous amount of time managing technology because the solutions available are not sufficiently customizable and scalable. “
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Tribe’s clients include SaaS, consumer online services and retail companies in North America, Europe, Asia and Australia. Some of these companies include Pipedrive, ConvertKit, IBM, ASUS, the Tim Hortons Foundation, and Prudential Financial. Tribe says it grew its customer base by 400% year-on-year between 2019 and 2020, and achieved 350 percent year-over-year revenue growth.
Tribe’s previous version of the platform required developers to spend months developing the startup’s software in order to launch its community website. With the funding, Tribe seeks to make it easier for developers to build their online community.
The company is currently building a portal that will allow third-party developers to quickly build and deploy applications on Tribe’s software, which will eventually be released to a âTribe App Storeâ. It would work the same as Shopify’s developer ecosystem, but Tribe will exist for the community sector. Tribe is also working on a mobile version of its platform, which is also scheduled for release in 2022.
Mahmoudian said Tribe is also looking to improve the platform’s ability to integrate with other solutions, such as Salesforce, and some of the new funding will be used to increase Tribe’s number of integrations.
While customer success remains Tribe’s key target industry for now, Mahmoudian said he hopes to expand the software to other businesses, such as online service companies, e-commerce, and the retail industry. education in the future.
Image courtesy of Tribe Technologies.