Rally Ventures has participated in a $10 million round of financing by San Francisco-based branded-experience company AnyRoad, that company announced this week.
Rally Partner Justin Kaufenberg sits on the board of AnyRoad. Rally previously participated in AnyRoad's $9.2 million Series A round of financing. Other participants in the new round were Andreessen Horowitz, Runa Capital, Precursor Ventures and Day One Ventures.
AnyRoad helps brands host live, virtual and hybrid experiences for clients like Budweiser, Honda and Nestle then gauge how successful those events are. Corporations spend more than $70 billion each year on experiences like test drives and brewery tours to drive customer loyalty, but AnyRoad allows them to see if that spending is successful in driving engagement, Kaufenberg said.
"Rally Ventures fundamentally believes in the future of the experience economy. Consumers crave experiences, especially on the heels of Covid-19," Kaufenberg said in a statement.
At the start of the Covid-19 pandemic, AnyRoad introduced a product called AnyRoad AtHome, which helps brands hold virtual events. AnyRoad CEO Jonathan Yaffe said he expects that business to stick around once the pandemic ends as brands use both in-person and virtual experiences to reach customers.
"The future is hybrid. We are now doubling down on building out a platform that leverages brands’ data to scale experiences that change behavior, feelings, and perception, no matter whether their customers are in stores or on sofas," Yaffe said in a statement.
AnyRoad will use the funding to invest in research and development and double its headcount in its engineering and sales departments.
