2012 BCIC New Ventures competitor Spruik, an online software-as-a-service referral platform, announced last week that they had raised “more than $200,000” in private investment.
The funding was secured from the owner of SplitMango Media, a web development firm also based in Vancouver, who will partner with the startup.
Spruik’s SaaS business model is centered on the concept of word-of-mouth being the most trusted and credible form of advertising: when a Spruik referral is acted upon, three parties get rewarded—the business receives a new customer, the new customer receives a generous discount, and the referrer receives a cash reward.
“This partnership with SplitMango will strengthen Spruik’s overall development capacity and allow Spruik to stay agile and ahead of the market,” says Susan Perry, CEO of Spruik. “Having only just launched our beta version, we already received such a great response. This investment will accelerate our mobile optimisation and fast-track new feature launches to provide more value to both users and businesses.”
Spruik’s was founded by Susan Perry, Brendan Jones, and David Crane.