About Drop
Drop is a company based in Los Angeles (United States) founded in 2020 by Benny B. It operates as a SaaS (Software-as-a-Service), and Subscription Services. Drop has raised $5.5 million across 1 funding round from investors including Speedinvest, Exponent Capital and Motier. Drop offers products and services including Social CRM Platform and Direct Messaging Campaigns. Drop operates in a competitive market with competitors including TextUs, LINK Mobility, SuperPhone, MessageMedia and TeleMessage, among others.
- Headquarter Los Angeles, United States
- Founders Benny B
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$5.5 M (USD)
in 1 rounds
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Latest Funding Round
$5.5 M (USD), Seed
Sep 26, 2022
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Investors
Speedinvest
& 6 more
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Employee Count
Employee Count
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Products & Services of Drop
Drop offers a comprehensive portfolio of products and services, including Social CRM Platform and Direct Messaging Campaigns. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Social CRM platform is offered for customer engagement.
Direct messaging campaigns are provided for personalized marketing.
Funding Insights of Drop
Drop has successfully raised a total of $5.5M through 1 strategic funding round. The most recent funding activity was a Seed round of $5.5 million completed in September 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $5.5M
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First Round
First Round
(26 Sep 2022)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2022 | Amount | Seed - Drop | Valuation | Speedinvest |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Drop
Drop has secured backing from 7 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Speedinvest, Exponent Capital and Motier. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage venture capital and startup acceleration are provided.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location | |
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Seed-stage investments in startups are provided by Kima Ventures.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Drop
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Drop
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Drop Comparisons
Competitors of Drop
Drop operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as TextUs, LINK Mobility, SuperPhone, MessageMedia and TeleMessage, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Text messaging solutions are offered for sales and customer support.
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| domain | founded_year | HQ Location |
Mobile payment and messaging solutions are provided to businesses.
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| domain | founded_year | HQ Location |
Mobile messaging platform
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| domain | founded_year | HQ Location |
Mobile messaging services are provided for business communications.
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| domain | founded_year | HQ Location |
Secure mobile messaging solutions are provided for enterprises by TeleMessage.
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| domain | founded_year | HQ Location |
Mobile messaging services for brands are delivered globally.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Drop
When was Drop founded?
Drop was founded in 2020 and raised its 1st funding round 2 years after it was founded.
Where is Drop located?
Drop is headquartered in Los Angeles, United States. It is registered at Los Angeles, California, United States.
Who is the current CEO of Drop?
Benny B is the current CEO of Drop. They have also founded this company.
Is Drop a funded company?
Drop is a funded company, having raised a total of $5.5M across 1 funding round to date. The company's 1st funding round was a Seed of $5.5M, raised on Sep 26, 2022.
What does Drop do?
Drop is established as a social commerce platform focused on enhancing customer relationship management through social media integration. The platform is designed to facilitate direct engagement with audiences on social channels, reducing costs and improving metrics like engagement and conversion rates. Solutions are provided for personalized messaging, click-to-direct campaigns, and data-driven insights in sectors such as retail, beauty, and sports. Emphasis is placed on leveraging Instagram Direct Messaging for higher open rates and customer retention strategies.
Who are the top competitors of Drop?
Drop's top competitors include TextUs, LINK Mobility and Mblox.
What products or services does Drop offer?
Drop offers Social CRM Platform and Direct Messaging Campaigns.
Who are Drop's investors?
Drop has 7 investors. Key investors include Speedinvest, Exponent Capital, Motier, Kima Ventures, and nalden.net.