By Michael Teich
Trufan, a new platform letting brands and influencers reward their most loyal fans on social media, has attracted the attention of big names in sports and entertainment, but CEO Swish Goswami told Cheddar he's taking a "very Canadian approach" by catering to mom-and-pop shops as well.
The Toronto-based company uses a proprietary algorithm to identify a social media user's most influential and engaged followers, who can then be targeted with special promotions, ads or other messaging. The tool is still about a month away from launch but has already caught the attention of some notable names in sports. It raised $1 million from investors including the Los Angeles Lakers' Kyle Kuzma and the CEO of DraftKings Jason Robins.
Brands working with Trufan in private beta include Under Armour ($UAA), Western Union, and the esports organization 100 Thieves. Influencers who gave the platform a test-run included Kevin Hart, Gucci Mane, Chris Paul, and Dwyane Wade.
"For a lot of the market for social media management tools, they don't really cater to mom-and-pop shops and small businesses that we like to do. So we're taking a very Canadian approach," he said, "which is to say we're trying to go after people that were just overlooked by a really big market."
Pricing for the monthly subscription platform starts at $9.99 per month for small businesses and then rises to an enterprise pricing tier for big brands.
While the initial focus has been on the sports community, Goswami said he eventually plans to expand Trufan's reach.
"Three big spaces are e-commerce, the cannabis industry because it is legalized in Canada where I'm from, and finally esports," he said.
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