Anafore, creators of the industry-leading ReferralCandy referral marketing SaaS technology, raised SGD$1 million in an oversubscribed round of financing. The investment round is being led by Innosight Ventures, the venture arm founded by global business thought leader Clayton Christensen. Other investors include John Kim and Ramanan Raghavendran of Amasia, as well as prior investors BAF Spectrum. Tom Clayton, CEO of Bubbly, will also join the company’s advisory board.
The financing will be used to expand into global non-English markets as well as develop referral solutions for offline businesses. Anafore will also use the funding to develop ReferralCandy's next-generation referral technology.
ReferralCandy serves hundreds of clients around the world, and has brought retailers millions of dollars in sales. Anafore’s revenues have tripled over the last year. The company operates its global activities from its headquarters in Singapore's Block 71 startup hub.
'Ecommerce businesses are exploding internationally, and they have a real need to reach customers over the noise of conventional advertising. Anafore has demonstrated their ability to fulfill that need with ReferralCandy.' - Piyush Chaplot, partner at Innosight Ventures
'ReferralCandy has made getting new customers a smarter, sweeter experience for countless businesses around the world. We’re thrilled to partner with our new investors to take our company to the next level.' - Dinesh Raju, co-founder and CEO of Anafore
ReferralCandy is a configurable refer-a-friend program that uses email marketing to encourage the customers of retailers to tell their friends about the store. Here’s how it works. After customers make a purchase, they're given a coupon that can be shared with their friends. When their friends make a purchase, the customer receives a referral reward.
Every ReferralCandy account comes with social media integration, real-time analytics, and a personal referral portal for each customer. ReferralCandy integrates easily with all major ecommerce platforms and is used by hundreds of retailers across North America, Europe, Asia and Australia.
(Fun Fact: The team at Anafore has been described as 'exceptionally intelligent' by Forbes, for their data-driven analysis of the ecommerce landscape in 2013.)