Kabbage founders drum up $11M for Drum, an SMB marketplace for sourcing salespeople, goods and services
It’s often said that smaller businesses get the short end of the stick when it comes to technology solutions: they are more high-maintenance than consumers, but not as lucrative as larger enterprises, leaving them caught somewhere in an unsatisfying middle.
But today, two serial entrepreneurs who have already built one big startup catering to SMBs — loans platform Kabbage — are launching another effort to help fill that gap. Drum, billed as a marketplace for businesses both to source sales people and sell their goods and services, has raised $11 million in funding to launch its company and to — yes — drum up new business.
“We’re democratizing access to a physical salesforce by aggregating all the fractionalised or partial demand into a common platform and dispersing that to individuals in the gig economy,” said Rob Frohwein — the CEO of Kabbage who is co-founding Drum with his Kabbage co-founder and COO Kathryn Petralia and Troy Deus — said in an interview with TechCrunch.
The money comes from a group of investors, some of whom have previously backed Frohwein and Petralia. Deus himself is a longtime Kabbage employee whose most recent role there has been head of new venture sandbox Kabbage
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