Why we backed PEEP đź’š
Responsibly Ventures launched in May 2021, and is proud to announce our fund’s first investment in the startup PEEP — a geo-social platform focused on positively impacting local communities and people. We share in their purpose, and are aligned with their vision. We also believe strongly, that the timing and pent-up-demand will continue to supercharge this opportunity.
What is their positive impact?
PEEP provides a powerful social marketing platform that helps your business stay connected with customers.
During the pandemic, the median business with more than $10,000 in monthly expenses, had about 2 weeks of cash on hand. (according to this study by NCAS)
With people re-entering the physical world, we believe PEEP is perfectly aligned to help struggling small businesses tap into the emerging GenZ consumer social market.
In this global study conducted recently among thousands of small businesses, 41% of all US consumers said they purchased from small businesses more than before the pandemic, including 51% of Millennials, and 46% of Gen Z consumers.
According one impact report by CivicEconomics.com, local retailers return 52 percent of their revenue back into the local economy, compared to just 14 percent for national chain retailers.
PEEP holds that people need a way to better support local businesses, and share in the economic rewards together, as community members. And we agree with them!
Who are they?
Founding Team:
Founders Valentine and Zerryn met at Northwest Missouri State University. Valentine graduated with a Computer Science degree, and Zerryn with a Finance degree. They both share a deep passion for empowering small businesses, local communities, and connecting GenZ consumers.
Valentine “Val” Osakwe (CEO): Has a killer sense of humor, is laser focused on product, and is super kind. His family immigrated from Nigeria, and he saw first hand how they struggled to operate and promote their small business as Entrepreneurs in the US. Val believes they could have greatly benefitted from a startup like PEEP.
Zerryn “Z” Gines (COO): Cares about the customer experience, and goes out of his way to support customers, and community. Z is no bullsh!t, and helps to keep Val focused on efficiently scaling their business.
Who else is backing them?
PEEP has raised Angel capital, along with taking our check as their first VC.
They just announced their admission into Techstars Chicago accelerator starting this summer — they are incredibly excited, and so are we! They will be hosting a celebration room with all of us on Twitter Spaces live, July 19th at 3pm PT.
Give the Founders a follow on Twitter here and here, and support them in their journey.
We are actively raising for our 506(c) at Responsibly Ventures. If you love startups like PEEP, and you want us to discover and support them as they scale — invest as an accredited LP in our fund. Don’t forget to follow @ResponsiblyVC on Twitter too.
