Mention Me, a platform to generate customer referrals, has raised a $25 million Series B round, led by London’s Octopus Ventures. Eight Roads Ventures, the lead investor from the prior round, a $7 million Series A in a 2018, also participated.
The London-based startup helps businesses turn referrals into a channel for acquiring customers, while also gathering data for other marketing activities.
Mention Me now plans to expand into the U.S., and develop its product offering.
Customers include Puma, Pret a Manger, InsurTech Bought By Many, Bloom & Wild and ASOS.
Its competitors include Friendbuy (raised $1.8 million), Talkable (raised $4.2 million), Extole (raised $28.7 million) and Yotpo (raised $436 million).
Andy Cockburn, CEO and co-founder of Mention Me, said: “With third-party data disappearing, paid social delivering diminishing returns and consumers increasingly overwhelmed by endless brand advertising, our technology puts advocacy at the heart of marketing to reconnect marketers and consumers. The most successful brands are realizing how this can drive growth, increasing customer acquisition and returns across the marketing activity spectrum.”
Octopus Ventures Principal Uthish Ranjan, who will join Mention Me’s board, commented: “Mention Me’s pioneering approach to customer advocacy and impressive growth trajectory is creating a new strategic channel of marketing technology. We believe the team is well-positioned to accelerate its growth in the changing world of marketing, and we look forward to supporting its international expansion.”