Prelaunch.com, a New Ark, DE-based product validation platform, announced that it successfully closed a $1.5 million in seed funding.
The round was led by Big Story VC, with participation from Formula VC, Granatus Ventures, BANA (Business Angel Network of Armenia), and Vahe Kuzoyan, co-founder of Service Titan.
The funding will enable Prelaunch.com to expand its reach, making the solution accessible to wider audiences and helping brands all over the world to validate their product concepts and launch confidently.
The funds will be used to advance the product’s current capabilities, improve the sales and marketing processes, and establish a strong presence in the US.
“I was running a successful marketing agency. Despite our many achievements, we kept spending months working on products that held great promise, only to end up as failures,” says Narek Vardanyan, founder and CEO of Prelaunch.com. “So, I started to research ways companies understand market interest. And I found that every current method was tied to discovering peoples’ opinions. The drawback here is that people don’t always do what they say. And this planted the seeds for a new concept: reservation funnels, which, unlike traditional alternatives like surveys or focus groups, is a system where customers place an actual monetary reservation, providing tangible proof of their genuine purchase intent.”
By enhancing product launches with an important phase called "pre-launching," the platform helps brands and innovators showcase their product concepts, test customers’ willingness to buy them, and get early supporters.
Only a year after its official launch, Prelaunch.com already counts 2,000 registered brands and access to nearly 1 million community members and potential buyers.
Company: Prelaunch Group, Inc.
Raised: $1.5M
Round: Seed Round
Funding Month: March 2023
Lead Investors: Big Story VC
Additional Investors: Formula VC, Granatus Ventures, BANA, and Vahe Kuzoyan
Company Website: https://prelaunch.com/
Software Category: Product Validation Platform
About the Company: Prelaunch.com is a product validation platform designed to validate real market interest and purchase intent before spending a dime on product development and marketing. Prelaunch.com offers a system where customers place an actual monetary reservation, providing tangible proof of their genuine purchase intent. With thousands of brands registered on the platform, Prelaunch.com have already revolutionized the way companies organize their launches. Its partner list includes some of the biggest industry players like e-bike and e-motorcycle producer Fuell, which is no longer interested in coin-toss the success of their product launch and has chosen to make the scientifically proven data-based decision.
Source: https://prelaunch.com/pressroom/prelaunch-com-raises-1-5m-seed-round.html