Wrapify, the #startup that will pay you to wrap your car with an advertisement, has raised $3M in seed funding. As a refresher, the startup provides a two-side marketplace that matches up drivers wanting to make some extra money with brands looking for a unique way to advertise. Eligible drivers will get their car wrap installed (and removed) for free, and on average are paid $450 a month for the duration of their campaign.
The entire round of funding will come from Avery Dennison, the global manufacturer of adhesive materials (including the Avery brand of office supplies you probably know them for).
Interestingly, Avery Dennison is the manufacturer of the wraps that Wrapify uses on all of its cars. While the adhesive manufacturer has already provided Wrapify exclusive access to new adhesive wrap technology (wraps with fast install-ability and removability) that better fit the startup’s use case of short-term installations, being on the cap table should incentivize them to continue investing in wrap technology that will allow Wrapify to operate more efficiently.
Wrapify plans on using the new funding to grow the company’s sales and engineering teams, as well as build out more features for its brand-facing portal.
Currently, brands can see things like how many cars with their ads are currently on the road, routes these cars are driving each day, and even estimates on how many impressions their campaigns are receiving. These statistics are provided to Wrapify directly from software running on the phones of all drivers currently participating in ad campaigns. Just like Uber uses a virtual phone-based “meter” to track rides, Wrapify uses a similar solution to figure out where and when its cars are on the road.
Wrapify is now live in 29 U.S cities, and has 42,000 drivers signed up on its platform.