Rewardful, an Edmonton-founded affiliate and referral marketing platform for SaaS and subscription companies, has acquired Paris, France-based SalesCamp. The terms of the acquisition were not disclosed.
“The majority of SaaS companies have yet to tap into this lucrative growth channel.”
Rewardful said the acquisition will help accelerate its product roadmap. SalesCamp will continue to operate as a separate entity for the foreseeable future, with its service uninterrupted during a future transition period. New customer signups will be directed to Rewardful, where the majority of the new product development will be focused on.
“If you go to the footer of almost any e-commerce store, including Amazon, you’ll find a link to their affiliate program. However, the majority of SaaS companies have yet to tap into this lucrative growth channel which is counterintuitive given their high margins and recurring revenue,” said Brady Cassidy, co-founder of Rewardful. “This acquisition will help us fulfill more of the pent up demand.”
Affiliate marketing is a kind of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s marketing efforts. Rewardful noted that most of these solutions are complex to set up and are built for e-commerce, meaning they can break during free trials, recurring payments, upgrades, downgrades, plan changes, cancellations, chargebacks, and disputes.
Rewardful aims to simplify the process for subscription-based companies to set up, automate, and manage their affiliate, referral, influencer, and partner programs under one umbrella. The company is an integration partner with Stripe and was founded by Cassidy and Kyle Fox.
Fox is a software developer and designer from Edmonton. He has built commercial SaaS apps for over 12 years in a variety of different industries, including e-commerce, healthcare, online exams, and training, and photography. Prior to Rewardful, Cassidy led growth and product at Granify, an AI platform for e-commerce, where he helped raise over $9 million in venture capital.
Founded in 2015, SalesCamp helps companies grow through word-of-mouth referrals, assisting businesses across all verticals to set up customer referral programs with flexible integration and automated reward fulfillment.
Image source on Unsplash. Photo by Kari Shea.