Seattle-based social commerce startup Nectar Social is out of stealth and today announced $10.6 million in funding.
Sisters Misbah Uraizee and Farah Uraizee launched the company in 2023 to help brands reach consumers where they’re hanging out on social media platforms and talk directly to them in personalized conversations using artificial intelligence.
GeekWire previously wrote about Nectar Social in March.
The co-founders previously worked at multiple tech companies and simultaneously held jobs at Meta, one in product management and the other in engineering. They’re tapping those experiences for insights into social media engagement with an eye on reaching Gen Z and Gen Alpha.
The traditional approach of companies connecting with shoppers through digital ads, emails and text messaging is expensive and ineffective, the co-founders said, as consumers scroll through ads and ignore messages.
“Now every customer journey starts with a Reddit search, a TikTok scroll or an influencer recommendation,” said Farah Uraizee in a LinkedIn video. “Ignore it and you’ll get left in the dust.”
Nectar’s co-founders define social commerce as a brand showing up on whatever social media platform its consumers are using and helping them discover products, making recommendations, entertaining them and building a relationship that leads to sales.
The startup’s AI tools also monitor online comments and videos from customers and influencers to get insights into the sentiment around brands and products. The company says it can track social interactions all the way to purchases.
The new funding was co-led by Tony Conrad at True Ventures and Frederique Dame at Google Ventures (GV). Other participants in the round include Sophia Amoruso, BAM Ventures, Mercury Fund, Charge Ventures, Flying Fish Ventures, XRC Ventures and FAB Ventures.
“With Nectar Social, they’ve built an intuitive, technically advanced platform that helps brands leverage generative AI to show up with speed, context, and scale — driving engagement, loyalty, and revenue in this next era of commerce,” Dame said in a statement.
Seattle-based Flying Fish previously led a $2 million pre-seed round, which is included in the $10 million announced Thursday.
Nectar has 12 employees at an engineering office in Seattle, and a sales and marketing hub in New York City.
The startup’s customers include GLAMNETIC, Solawave, Olipop and Jones Road Beauty. The company is focused on consumer goods, beauty, wellness, food and beverage, software services and lifestyle products.
Others offering social media-driven marketing include Shanghai-based SuperOrdinary, which is valued at $800 million, as well as Algolia, Rebuy and Loup. The Uraizees said their company is unique for providing data that demonstrates how social commerce efforts are delivering results.
Read the full article here
