Bounty, an online service that enables TikTok producers monetise brand evaluations and recommendations, announced today the completion of a $4.7M seed round led by early-stage consumer digital venture capital firm M13.
The new service, which is presently in beta, is intended for TikTok users who wish to make money by reviewing brands’ items rather than simply professional artists.
Existing investors Sugar Capital and Interlace Ventures, as well as founders and executives from Rothy’s, Fabletics, Stack Commerce, and others, contributed to the total sum raised of $6.777M.
The funds will be utilised to onboard brands from the company’s 750+ brand queue. US-based Bounty now collaborates with 30 businesses, including Jones Road Beauty, BlendJet, Olipop, and Doe Lashes. Bounty’s engineering, design, and marketing departments will benefit from the cash as well. Google, Sezzle, and Dharma are among the early employees.
Customers sign up by entering their phone number on the Bounty website and receiving a series of instructions. Users must first purchase an approved product from one of the partnering brands to be eligible for the bounty. After the transaction has been completed and delivered, the customer will receive a special text message with a link to accept the “Bounty” and be paid when they post their video review to TikTok. The creator shares content with the brand labelled and the hashtag #bounty in the caption. Bounty will notice the post and notify the customer that it is being tracked. According to FTC requirements, the videos must also be clearly labelled as “sponsored.”
$10 for every 1,000 views
Reviewers can earn up to $10 for every 1,000 views their TikTok clip receives and keep 100% of their revenue. They are compensated for organic views in TikTok obtained during the first 48 hours. According to the firm, the price per view steadily decreases as views increase to give a fair return for the author and the brand. So, the creator is paid more if the video performs well in the first two days.
Bounty is available to everyone over the age of 18 who has a TikTok account.
Bounty collaborated with about 14,000 creators during beta testing. The company claims its best creators earn roughly $3,000 each month, but it doesn’t say how many films they publish or how much an average user earns.
Abe Wolke launched the Miami-based company in 2021. He previously co-founded two DTC companies that were unable to run Facebook advertisements owing to product categories. Instead, he focused on working with creators to drive top-of-funnel growth, and he applied what he learned from working with creators to assist companies navigate the new advertising landscape.
“Month over month, creator earnings have gone up 200%, with top creators earning over $3000 per month,” said Abe Wolke, founder and CEO of Bounty. “We are excited to level the playing field for creators and brands.”
“Most DTC brands know they need to unlock growth via TikTok. Bounty is compelling because it provides brands with cost-effective growth channels that scale,” said Brent Murri, principal at M13.
In the next few weeks, the startup plans to publicly launch its service to a larger audience. Bounty will initially only function with TikTok users, but it intends to expand to Instagram Reels over the next 12 months. YouTube Shorts and other video outlets will be examined later.
