SparkPlug announced $2.5 million in seed funding led by a mix of venture capitalists, angel investors, and business leaders, bringing their total capital raised to date to $3.5M. SparkPlug was the top-ranked company coming out of the highly competitive LAUNCH accelerator, with seed investors including TenOneTen Ventures, Jason Calacanis, and Argonautic Ventures; co-founders from Shift, Applied Semantics, Social Native, and Factual; and executives at Foursquare, DoorDash, Xerox PARC, and Facebook.
“The funding comes at a critical time,” says SparkPlug CEO and co-founder Andrew Duffy. “The labor crisis has left restaurants and retail stores struggling to attract and retain enough in-person workers, making it even more difficult to generate the sales they need to survive. The pandemic’s frontline workers are frustrated, fed-up and in need of a better compensation package that makes it worthwhile for them to sign on and stick around. SparkPlug turns both of these challenges into huge opportunities for retailers, restaurants, and consumer brands.”
SparkPlug is an employee rewards and campaign management platform designed to increase revenue and retention rates for brick-and-mortar restaurants, retailers, and the consumer goods companies they work with.
SparkPlug is leveraging this round of capital to enhance their product offering and expand their engineering and sales teams.