August 29, 2023

Raleon Secures $3.8 Mln in Seed Funding Round

Raleon

Raleon

A North Carolina-based engagement platform called Raleon has recently raised $3.8 million in a Seed funding round.

Blockchange Ventures, a venture capital firm that invests in early-stage blockchain companies, protocols, and applications, anchored the funding round. Additionally, according to the company’s official announcement, Raleon received investment from Play Ventures, a gaming-focused VC, Alliance DAO, a Web3 accelerator, and Portal Ventcompany’srypto-focused investor.

Founded in 2022 by entrepreneurs Nathan Snell and Adam Larson, Raleon offers a platform that enhances user engagement in the Web3 space, helping brands, games, and decentralized applications (dApps) maintain and expand their user base.

The SaaS platform Raleon offers includes features such as growth analytics, Web3 marketing automation, and Embedded Quests. This platform utilizes on-chain and off-chain data to enhance user retention and conversion rates.

One of the latest products of Raleon is Embedded Quests, which enables dApps to configure their own unique quests without coding. This product also provides a personalized, chat-like experience that helps brands build better customer relationships.

In this regard, Snell said: “The Embedded Quest feature is more than just gamification; it’s a versatile engagement tool. It’s an innovative approach to growing and nurturing communities, improving user onboarding, and driving long-term loyalty in a fun and interactive.”

The company has announced that it plans to use the newly acquired funding to expand its workforce and further develop its engagement and retention platform in the realm of Web3, which includes Embedded Quests.

Investor interest in Web3 has increased as companies strive to incentivize and reward user behavior on the Internet. Raleon’s Seed funding round is a reflection of this trend.

According to a report from WeMarketResearch released in June, the global Web3 blockchain market is expected to grow from $1.3 billion in 2022 to approximately $87 billion in 2033.

In July, Safary, a Web3 marketing analytics firm, released a report showing that 71 startups in the emerging Web3 digital marketing sector have raised over $600 million, with questing and loyalty platforms being the most well-funded categories.

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