We’re excited to announce our first Matchstick investment in Ambassador. Located in Detroit, MI, Ambassador has built a referral marketing automation platform that we think will create a whole new marketing funnel – one that begins when the initial sale ends.
Referrals are the most effective form of marketing available. Period. A recommendation from a trusted friend, professional, or peer has more sway than 100’s of online reviews or celebrity endorsements. While the “refer a friend” program has long been around, this process is cumbersome and, oftentimes, archaic to track and maintain. Trust us. We’ve tried and it sucks.
Ambassador takes care of all this. They automate the process of turning a company’s current customers into brand ambassadors that drive new sales. It’s a simple, scalable, enterprise-ready B2B SaaS business that integrates with almost anything.
Referral marketing is a massive opportunity that we’ve been looking for a solution for some time. Many of our portfolio companies feel this pain everyday. They have dedicated customers who love their products but find it’s hard to incentivize existing customers to become evangelists for their company. Many marketing automation platforms focus on the front-end of the sales process by targeting undiscovered customers. Ambassador takes over once the initial sale is over.
Jeff Epstein and Chase Lee founded Ambassador in 2012. These guys are tenacious and have the entrepreneurial chops needed to lead the company going forward. After graduating from Techstars NYC, Jeff and Chase have been heads down acquiring customers and obsessing over their product. We are excited to be joining them now as they hit a strong surge in growth.
Ryan was introduced to Ambassador via Patrick at Arthur Ventures. This is our first co-investment with our northern VC brethren and we are very excited for the chance to work together.
Welcome Jeff, Chase and the whole Ambassador crew to the Matchstick family!