Bessemer, CRV lead $7.5m seed-stage financing of Tribe

Toronto-based Tribe, an online customer community platform for software-as-a-service businesses, has raised $7.5 million in a seed financing.

Toronto-based Tribe, an online customer community platform for software-as-a-service businesses, has raised $7.5 million in a seed financing. The round was led by Bessemer Venture Partners and CRV with participation from Inovia Capital. Tribe was founded in 2018 by Siavash Mahmoudian, Soheil Alavi and Mohsen Malayeri.

PRESS RELEASE

Toronto, Ontario–(Newsfile Corp. – June 29, 2021) – Tribe, a customizable community platform that enables businesses to create their customer communities, announced today it has closed a $7.5m seed financing round. It was led by Bessemer Venture Partners and CRV with participation from Inovia Capital.

With Tribe, companies can create online communities to engage customers and followers. Moreover, these communities empower customers to derive maximum value from the product, thereby improving customer retention and, ultimately, the revenue.

A growing number of SaaS players are turning to Tribe to build customer communities so they can get a pulse of customers, create a tight feedback loop, offer support, and enable knowledge sharing. Customer numbers at Tribe have soared 400% year-on-year since 2019 which includes businesses such as Pipedrive, ConvertKit, IBM, ASUS, Tim Hortons Foundation, and Prudential Financial.

“We believe any business should be able to build something similar to Facebook, LinkedIn, or Clubhouse for their brand in a few clicks. Building an online community is less about technology and more about creating a network and sense of belonging. Still, many companies have to spend a tremendous amount of time handling the technology because the solutions out there are not customizable and extensible enough,” said Siavash Mahmoudian, Co-founder and CEO, Tribe. “At Tribe, we don’t just want to solve technical problems. We want businesses to learn best practices by action. A community manager with no coding knowledge should be able to bring up their community with Tribe in hours and not months.”

Tribe’s no-code community solution comes packaged with two components, a core platform, and modular apps. The core platform solves the most complex parts of an online community that includes member management, feed, notifications, moderation, analytics, and security. Apps are installed on top of the core platform to extend functionality such as events, Q&A, ideation, voice chat, and messaging.

On investing in Tribe, Ethan Kurzweil, Partner at Bessemer Venture Partners, said “Tribe is building a flexible and highly customizable platform for communities, making it one-click easy for individuals and enterprises to spin up community sites for their fans and customers. Siavash is the very definition of product-centric, and his vision for bringing a community platform to the far reaches of the internet in an integrated way resonated highly with me. I’m excited to be part of the Tribe team”.

Anna Khan, General Partner at CRV shared “Community has always been central to Siavash, Mo, and Soheil – and there is no better team to take on the momentous task of building the right tools to empower those who are building and joining communities at large. The Tribe team has accomplished so much in a short period of time, and I am thrilled to join them on this incredible journey”.

Tribe was founded in 2018 in Toronto, Canada by Siavash Mahmoudian, Soheil Alavi, and Mohsen Malayeri, who migrated to Canada from Iran with a shared vision of enabling brands to build thriving online communities. The company is now powering thousands of active communities in SaaS, consumer online service, and retail in North America, Europe, Asia, and Australia.

About Tribe
Tribe is a community platform designed to empower the customer communities of SaaS companies. It is popular for its collection of best practices derived from social networks and the ability to deeply integrate into products. Founded in 2018, Tribe now powers thousands of active communities to connect millions of end-users across the globe and features IBM, Pipedrive, ConvertKit, and ASUS as some of the biggest brands in its customer portfolio. For more information, please visit https://tribe.so/.

About Bessemer Venture Partners
Bessemer Venture Partners is the world’s most experienced early-stage venture capital firm. With a portfolio of more than 200 companies, Bessemer helps visionary entrepreneurs lay strong foundations to create companies that matter, and supports them through every stage of their growth. The firm has 130 IPOs, including Pinterest, Shopify, Twilio, Yelp, LinkedIn, Skype, LifeLock, PagerDuty, DocuSign, Wix, MindBody, and Fiverr. Bessemer’s team of investors and partners are positioned all over the world in Silicon Valley, San Francisco, New York, Boston, Tel Aviv, Bangalore, and Beijing. Follow @BessemerVP and learn more at bvp.com.