Two under-30s left their jobs at JPMorgan and launched Glow Labs, a loyalty rewards solution for blockchain companies. Check out the 12-page pitch deck used to raise $4.15 million from investors including Harlem Capital.
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- Glow Labs, a provider of loyalty rewards software for blockchain companies, raised $4.15 million in a seed round led by Harlem Capital.
- The US startup was founded by 28-year-old Annie Reardon and 26-year-old Renee Russo, who are both JPMorgan alums.
- Check out the 12-page pitch deck they used to raise the funds within six months of launching.
Glow Labs, a provider of loyalty rewards software for blockchain companies, just raised $4.15 million in a seed round led by VC firm Harlem Capital, bringing the company’s total funding to $4.4 million.
The US start-up was founded in November 2021, by two software engineers, Annie Reardon and Renee Russo, to provide Web 3.0 companies with a no-code solution that will enable them to reward their communities.
“The inception of Glow Labs stemmed from personal experience trying to reward NFT purchasers, and the realization that there was a huge unanswered gap for creators looking to encourage repeat purchases and offer their communities rewards,” Reardon and Russo said in a press release.
“We’ve built a seamless solution that allows creators, marketplaces and more to build community, rewarding customers for loyalty and support both on the chain and off,” they added.
28-year-old Reardon and 26-year-old Russo met while working at JPMorgan on a team building out Chase web and mobile products. They both bonded over the vision for a Web 3.0 world and spent time learning about the space through NFT-flipping and coding Web 3.0 projects.
In August 2021, Russo even launched an NFT project called Dinomonks.
“I discovered a huge gap in the Web3 space – there was no opportunity to reward your community for on-chain and off-chain activity,” Russo said in an email. “I launched an airdrop campaign, a way to gift customers a free NFT, which took me about 3-4 weeks and $10K to build – not a sustainable solution for independent creators or established brands.”
This journey led to the inception of Glow Labs, which supports brand partners in implementing loyalty rewards through a self-service and customizable platform.
“After some success with [NFT flipping], we noticed a white space to create a rewards program for Web3 native brands,” Reardon and Russo said in an email. “We felt really confident navigating the space and decided to take the leap.”
The new funds will enable Glow Labs to grow the team and focus on marketing and further software development.
The company would not disclose their valuation. Other investors in the seed round include Forerunner Ventures, Female Founders Fund, Red Beard Ventures and Human Ventures.
“We are very aware that our fundraising journey has been unique, in the sense that it was actually an incredibly exciting and fast experience!,” the two said. “We met our lead investor, Harlem Capital, on the ground at Art Basel (now affectionately referred to as NFT Basel by many) and we left the event with a term sheet.”
“From there we were incredibly intentional with our other investors that we brought on, we strategically sought out female investors, and are really proud that three out of five of our investors are women,” they added.
Check out the 12-page pitch deck they used to raise the funds.