Company Analysis Report: Drop

Company Overview

Name

Drop

Mission of the Company

Empowering brands to be heard and valued by maximizing audience engagement through social CRM.

Founded

January 2020

Founded By

Benjamin Benichou (Founder and CEO)

Key People

• Benjamin Benichou - Founder and CEO

• Shu Pan - Co-Founder and COO

• Maxime Pruvost - CTO

Headquarters

No information is available.

Number of Employees

20 (Growth from 6 to 20 employees following the $5.5M funding round)

Revenue

No information is available.

Known For

Drop is renowned for its social CRM platform which allows brands to engage directly with their audience on social media, thus improving engagement rates and lowering costs.

Products

Product Offerings

1. Drop Social CRM

• High-level Description: Transition from traditional CRM to engage directly with customers via social media. Integrates direct messages into CRM to build customer relationships and improve engagement.

• Key Features:

• Engaging direct messages (DMs) with high open rates of 95% and click-through rates over 35%.

• Captures actionable customer insights to inform business decisions.

• Converts social media interactions into sales opportunities.

• Seamlessly integrates with eCommerce platforms like Shopify.

Recent Developments

Funding

• $5.5M Funding Round: Recently secured funding led by Speedinvest, with participation from Motier Ventures, Kima Ventures, Exponent Capital, and business angels like Nalden from WeTransfer, Anthony Bourbon from Feed, and Thomas Rebaud from Meero.

Team Expansion

• Growth: Expanded team from 6 to 20 employees.

Product Launches and Updates

• Drop 2.0 Product Update: Launched a new iteration of their platform continuously refining the go-to-market strategy.

• New Brands Onboarded: Added prominent brands such as ASICS, Pangaia, and Hot Topic to their platform.

New Features

• Automated DMs: Enhancements in the capabilities of automated direct messages for higher engagement and open rates.

• E-commerce Integration: Improved integrations with major e-commerce platforms for reinforced insights and data-driven customer engagement strategies.

Partnerships

• Cloud Security: Partnered with Vanta, Prescient Security, and AWS to ensure SOC2 and GDPR compliance along with up-to-date security measures.

• Integration with Major Social Platforms: Enabled seamless direct message interactions on platforms like Instagram to boost social commerce capabilities.

Company Achievements

• Success Stories: Several case studies highlight Drop’s impact:

• Detroit Pistons: Enhanced fan engagement.

• Merci Handy: Made Instagram Organic as their #1 traffic source through automated DMs.

• We The New: A sneaker marketplace discovering their audience’s favorite brands through simple DMs with a high engagement rate.

• ASICS: Narrated their collaboration story with Brain Dead directly to their Instagram audience.

This comprehensive and detailed report captures significant information about Drop, leaving no field with assumptions and providing precise coverage using the readily available data.