Total amount raised
$92.9 Million
Latest funding date
8/1/2019
Location
Ibotta has successfully raised funds over six rounds, with the latest being a Series D round led by Koch Disruptive Technologies. The company is backed by a total of 13 investors, including Employee Stock Option Fund and Koch Disruptive Technologies.
Keep reading to explore the intricacies of Ibotta's fundraising journey and the investors backing this innovative platform.
What Is Ibotta?
Ibotta is a versatile platform that offers cash-back rewards for shopping, making every purchase more rewarding. Founded in Denver, Colorado, the company operates in various industries, including apps, coupons, e-commerce, mobile apps, retail, and shopping. With a significant employee base ranging from 501 to 1000 employees, Ibotta has established itself as a key player in the service industry.
The company has paid out over $2.3 billion in cash back to its users and collaborates with more than 3,000 retailers. Ibotta's app has a high user rating of 4.7, reflecting its popularity and effectiveness in providing cash-back rewards. The platform also offers performance-based advertising solutions for leading brands and retailers.
How Much Funding Has Ibotta Raised?
- Series A
- Amount Raised: USD 7,915,076
- Date: April 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the Ibotta app, providing cash-back rewards to users.
- Series B
- Amount Raised: USD 20,000,000
- Date: June 2014
- Lead Investors: James Clark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the app's features and increase user acquisition.
- Series C
- Amount Raised: USD 40,000,000
- Date: September 2015
- Lead Investors: James Clark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the app's technology.
- Series C
- Amount Raised: Not publicly disclosed
- Date: July 2017
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and improve app functionality.
- Series D
- Amount Raised: USD 25,000,000
- Date: August 2017
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and enhance user experience.
- Series D
- Amount Raised: Not publicly disclosed
- Date: August 2019
- Lead Investors: Koch Disruptive Technologies
- Valuation at Round: $1 billion
- Motivation Behind the Round: To expand operations and business reach, and to enhance the app's features.
Total Amount Raised: USD 92,915,076. Current Valuation: $1 billion.
Key Investors
- Koch Disruptive Technologies
- Details: Koch Disruptive Technologies is a subsidiary of Koch Industries, focusing on investing in high-growth companies that are innovating and disrupting their industries. They led Ibotta's Series D funding round in 2019.
- Investment Focus Areas: Technology, energy, industrials
- Notable Investments: Not publicly disclosed
- Notable Capital
- Details: Notable Capital is a venture capital firm that participated in Ibotta's Series D funding round in 2017. They focus on investing in innovative startups with high growth potential.
- Investment Focus Areas: Technology, e-commerce, mobile apps
- Notable Investments: Not publicly disclosed
- James Clark
- Details: James Clark is an individual investor who led Ibotta's Series B and Series C funding rounds. He is known for his investments in early-stage technology companies.
- Investment Focus Areas: Technology, mobile apps, e-commerce
- Notable Investments: Not publicly disclosed
What's Next for Ibotta?
As Ibotta continues to grow, the company is poised to capitalize on the shift from traditional paper coupons to digital solutions. With over 35 million downloads and $600 million in rewards given back to users, the potential for further expansion is significant. The integration with existing loyalty programs and the provision of tech solutions to small retailers present substantial opportunities for growth.
Future fundraising rounds seem likely, given the successful Series D round and the company's $1 billion valuation. These funds could be used to enhance the app's features and expand its market reach. However, Ibotta will need to navigate challenges such as compliance with regulations, risk mitigation, and maintaining user engagement in a competitive market.
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