Gen-Z Digital Opps: Caraway completes Series A Funding round
Sales lead: Get in touch if you can help this company expand.
- Caraway secured $16.8m in a Series A funding round in June 2023.
- It plans on using these funds to add new services and expand into CO, PA, IL, MA, MI, and NJ.
- It currently operates in CA, NY, NC, and OH.
- Caraway launched in 2021 as a digital healthcare company for Gen-Zers.
Target demographic: Gen-Z
The company will likely:
- Keep expanding into new states
- Significantly increase ad spend
- Diversity ad placement
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: Caraway spent $900 on digital display ads YTD after not allocating any budget toward this channel during the same time period of 2022.
- 2021-2022 spend: The company started investing in this channel in Q4 of 2022 by spending about $15.8k.
- 2022 data: 2m impressions via Instagram (96%) and Facebook (4%).
- 2022 Ad location: It placed 100% of these ads directly onto instagram.com and facebook.com.
Agency analysis:
- Opportunity: Caraway does not currently work with any agencies, so you may be able to pick up some of its business.
Insight Sources: Digital spend insights estimated by Pathmatics.
Contacts:
Olivia Coletta
Head, Engagement
olivia@caraway.health
Audrey Mann Cronin
Head, Communications & Content Marketing
audreymc@caraway.health
Jenny Friedler
Head, Brand Experience
jenny@caraway.health
