RAEK, a Liberty Lake-based technology startup that helps businesses collect, organize and utilize data for marketing purposes, has raised $400,000 in a pre-seed funding round.
RAEK will be using the pre-seed funding to expand the company through strategic partnerships and direct-to-consumer advertising, according to a news release.
“The RAEK team has hit a major milestone by completing our first raise,” Ryan Pool, co-founder of RAEK, said in a statement.
“We have made a significant effort over the course of this year to establish a leadership position in the first-party data space.”
The pre-seed round includes investments from Charles Perez, founder and CEO of Atlanta-based CDM-Advisors; Ian Marshall, co-founder of Addenso Labs, Kerry Lucasse, founder of Building Better Agents; Michael Varnadore, partner at Concentric Tax & Consulting and Chris Barnes, a lead cloud solutions architect.
Pre-seed funding is the earliest stage of capital investment in startups.
Pool and Cory Crapes founded RAEK in 2020. The company’s product helps small and medium-sized businesses collect and process first-party data from their websites.
Businesses can then use data for online advertising, email marketing, direct mail and more.
“Everyone is excited at RAEK to be a part of a company dedicated to helping small businesses grow their digital advertising capabilities in a world that favors larger businesses with the resources to build effective marketing,” Crapes said in a statement.
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