Spare5 has raised a $3.25 million seed financing round from New Enterprise Associates, the Foundry Group, and Madrona Venture Group, along with angel investors. Spare5 is the first company to spin out of Madrona Venture Labs, a startup studio housed at Madrona that prototypes, builds and launches new software applications and services. As part of the funding, Madrona managing director Greg Gottesman and Foundry’s Brad Feld will join the Spare5 board.
Spare5 is a mobile application and an on-demand insights platform that pays people to provide expert insights in their spare time. The company says it is initially focused on helping e-commerce companies increase sales through expert image tagging and data clean up. The company sends paid projects to people on their smartphones based on their experience, hobbies and the quality of their responses.
[Image courtesy: Spare5]