Canaan Leads Series A; Company’s 277% ARR YoY Increase Is Beating Growth Metric Expectations

Countable, the enterprise engagement platform, today announced that it has closed $12M in Series A funding. The round serves as a strong endorsement of Countable’s vision to build technology to foster more authentic communication and facilitate critical business and social outcomes. Canaan Partners led the round, with participation from New York-based Ulysses Management and Tokyo’s Global Catalyst Partners. Countable will use the funds to scale its business operations and product roadmap, including serving as a launchpad for social token community exchange. “Countable is transforming the social network landscape, and we support the revolution,” said Marigay McKee, general partner at Fernbrook Capital, an early Countable investor.

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Leveraging years of expertise, Countable is a trusted partner for global brands in bringing fragmented communities together and turning audiences into brand advocates. As consumers increasingly expect the brands they buy from to be clear about their values and take a stand on issues, these brands need an owned platform that turns corporate strategy into actionable stakeholder engagement.

“The pandemic is pushing companies to build engaged virtual communities, and while popular social media properties offer options, there hasn’t been a brand-owned enterprise platform that brings people together and influences change – until Countable,” said Joydeep Bhattacharyya, general partner, Canaan Partners. “As employees, customers and partners increasingly associate with brands whose values and actions align with theirs, Countable has become an essential platform for some of the world’s largest companies.”

Scalable to millions of users, Countable’s platform is uniquely positioned as a brand-safe social network that brings employees, consumers, and/or partners together via a robust menu of engagement features and extended content management services. As a standalone site or integrated with an existing digital web presence, the platform sites are custom-branded, white-labelled, with public, private, or application-based access and provide companies with valuable audience data and analytics, driving increased revenue, retention, and innovation.

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“Social media has taught us that engaging your customers as a community can help them become an incredible asset for any brand” said Bart Myers, CEO of Countable. “We started Countable with the mission of bringing customers together in brand-safe online communities and where the benefits – data ownership, access to your audience, privacy, personalized actions – stay with the brand, helping drive their goals. This funding round is a fantastic voice in support of that vision, and we are delighted by the support of our investors.”

Countable grew its revenue by nearly 300% this past year, adding enterprise Fortune 100 clients to a roster that already includes Starbucks, Uber, and Levi’s. Spanning many geographies, industries, and audiences, customers rely on Countable to power new ways of engaging their customers and partners everywhere, including brand and community awareness, employee advocacy, and influencing public policy and civic engagement.

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