What is Drop?
Founded in 2012, Drop operates on a distinctive model that leverages insights from its community of over 6.9 million members to create and curate innovative products. The company's platform facilitates product discovery, learning, sharing, and participation in product development. Drop's popular product categories span audio, technology, apparel, outdoor gear, and cooking essentials, reflecting a broad appeal to consumer interests and passions. The company's strategy centers on using data and enthusiast feedback to drive product innovation and market relevance.
How much funding has Drop raised?
Drop has raised a total of $50M across 4 funding rounds:
Angel/Seed
$1.5M
Series A
$6.5M
Series B
$40M
Debt
$2M
Angel/Seed (2013): $1.5M with participation from Kleiner Perkins, Cowboy Ventures, and First Round Capital
Series A (2014): $6.5M led by First Round Capital, Mayfield Fund, Cowboy Ventures, and Kleiner Perkins Caufield & Byers
Series B (2015): $40M supported by First Round Capital, Cowboy Ventures, August Capital, and Mayfield
Debt (2020): $2M featuring PPP
Key Investors in Drop
First Round Capital
First Round Capital is a prominent venture capital firm known for its early-stage investments, often focusing on technology and software companies.
Cowboy Ventures
Cowboy Ventures is an early-stage venture capital firm that typically invests in consumer technology and marketplace businesses.
Mayfield
Mayfield is a venture capital firm that invests in early-stage technology companies, with a focus on enterprise and consumer sectors.
What's next for Drop?
With a major enterprise-level funding context and a recent strategic investment, Drop is poised for significant expansion. The company's trajectory, marked by a history of diverse funding rounds including Series A and Series B, suggests a strategic approach to scaling operations and product development. This latest capital infusion is expected to fuel further innovation, enhance community engagement, and potentially broaden its market reach. The focus on data-driven product curation positions Drop to capitalize on evolving consumer trends and maintain its competitive edge in the product development landscape.
See full Drop company page
