Chute Secures Series B Funding
Chute continues to further Salesforce partnership with Community Cloud integration
Chute, a leading enterprise user-generated content (UGC) platform, today announced that it has closed a Series B equity round with Foundry Group, Salesforce Ventures, and U.S. Venture Partners contributing to the round.
The Chute platform provides its partners with the ability to better discover, manage and publish user-generated content created by everyday consumers and influencers. The company recently launched a solution that integrates with Salesforce Community Cloud, enabling community managers to tap into visuals to add authentic content to their online hubs and to tie in strong calls-to-action by highlighting specific offerings with visual content and links to buy or learn more.
“Over the past few years, we’ve seen authentic marketing, such as user-generated content and influencers, explode in the marketing world.” Ryan McIntryre, Foundry Group Managing Director and co-founder, said. “Chute predicted this shift year in advance and we are thrilled to see that they’re continuing to innovate and grow.”
Since its launch in 2012, Chute has seen substantial growth, processing and serving billions of photos for clients like Benefit Cosmetics, NBC Universal, Norwegian Cruise Lines, The Ritz-Carlton and travel destinations around the globe. Chute continues to expand as more companies turn to authentic content and influencers as key focuses of their marketing strategies.
The new funds will be used primarily to expand product offerings and scale operations globally. Chute will also invest in adding more functionality for its platform that integrates with Community Cloud, including new media management, social content and UGC features scheduled for release in 2017. Chute for Community Cloud is currently available on the Salesforce AppExchange at https://appexchange.salesforce.com/listingDetail?listingId=a0N3A00000EFnyZUAT.
“Chute enables brands use earned media at scale, closes the loop between legal and marketing with Chute Rights, and helps marketers use that content in their paid and consumer insights efforts. We’re excited to continue innovating in the world of authentic media and to be expanding our work with Salesforce to make that possible for even more brands,” said Ranvir Gujral, CEO of Chute.
Chute powers UGC for the world’s leading brands and destinations. The platform offers a holistic approach – enabling marketers to discover consumer photos and videos with both visual recognition, geolocation, and text search, glean content and influencer trends and data, and produce and amplify authentic media featuring this content.Chute’s clients include Wyndham Worldwide, Travel Nevada, The Ritz-Carlton, SeaWorld, National Park Foundation, Norwegian Cruise Lines, and NYC & Company.
About Foundry Group
Foundry Group is a venture capital firm focused on making investments in early-stage information technology, Internet and software startups. Its third venture fund of $225m was launched in September 2012 and is managed by four managing directors with over five decades of combined experience in venture capital investing. During that time they have invested in over 100 companies as institutional investors and over 50 companies as angel investors. Additionally, they have over three decades of entrepreneurial experience in founding and working in senior operating roles inside technology startups.
About Salesforce Ventures
Salesforce Ventures—Salesforce’s corporate investment group—invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce’s expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009. For more information, please visit www.salesforce.com/ventures.
About U.S. Venture Partners
U.S. Venture Partners (USVP) is a leading Silicon Valley venture capital firm, partnering with entrepreneurs to transform their ideas into world-changing companies. USVP has invested in over 400 companies spanning three decades, including: Box, Castlight Health, Check Point Software, Concur, GoPro, Guidewire Software, HotelTonight, Imperva, InsideSales.com, Intersect ENT, Omada Health, OncoMed, SanDisk, Sun Microsystems, Trunk Club, Trusteer, Yammer, and Zerto. USVP focuses on early-stage start-ups that transform cybersecurity, enterprise software, consumer mobile and e-commerce, and healthcare. The USVP team consists of former entrepreneurs, technologists, corporate executives, and financial professionals who assist with strategy, scaling, team building, product development, and business development. USVP is based in Menlo Park, California. More information can be found at www.usvp.com.