Total amount raised
$210.2 Million
Latest funding date
2/1/2025
Location
Raise has successfully completed seven funding rounds, attracting investments from 30 different investors, including recent backers Pharsalus Capital and Sonic Boom Ventures. The platform offers users the ability to buy and sell gift cards online at a discount, providing a unique marketplace for everyday savings.
Keep reading to explore the intricacies of Raise's fundraising journey and the investors backing this innovative platform.
What Is Raise?
Raise is a private company based in Chicago, Illinois, that operates a gift card marketplace. The platform allows users to buy and sell gift cards online at a discount, providing a unique way to save on everyday purchases.
With an employee count ranging from 101 to 250, Raise has successfully completed multiple funding rounds, attracting investments from 30 different investors. The company has also acquired two organizations, Getslide and Tastebud, to expand its offerings.
How Much Funding Has Raise Raised?
- Seed Round
- Amount Raised: USD 600,000
- Date: November 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the platform and establish initial market presence.
- Seed Round
- Amount Raised: USD 4,500,000
- Date: October 2012
- Lead Investors: The Pritzker Organization
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase user acquisition.
- Series A
- Amount Raised: USD 20,100,000
- Date: November 2013
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's technology.
- Series B
- Amount Raised: USD 62,000,000
- Date: January 2015
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve user experience.
- Series C
- Amount Raised: USD 60,000,000
- Date: September 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To innovate in the gift card market and integrate blockchain technology.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and development in the gift card sector.
- Series Unknown
- Amount Raised: USD 63,000,000
- Date: February 2025
- Lead Investors: Haun Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop blockchain-based Smart Cards and support the Retail Alliance Foundation.
Total Amount Raised: USD 209,200,000. Current Valuation: Not publicly disclosed.
Key Investors
- Haun Ventures
- Details: Haun Ventures is a venture capital firm led by Diogo Monica, focusing on blockchain and cryptocurrency projects. They have been a significant backer in Raise's recent funding rounds.
- Investment Focus Areas: Blockchain, cryptocurrency, Web3 technologies.
- Notable Investments: Various blockchain and cryptocurrency startups.
- Accel
- Details: Accel is a global venture capital firm known for investing in early-stage and growth-stage technology companies. They have been a key investor in Raise's Series C round.
- Investment Focus Areas: Technology, e-commerce, software.
- Notable Investments: Facebook, Dropbox, Slack.
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm that invests in a wide range of industries, including technology and healthcare. They led Raise's Series B round.
- Investment Focus Areas: Technology, healthcare, energy.
- Notable Investments: Uber, Coursera, Robinhood.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that invests in early-stage companies across various sectors. They were the lead investor in Raise's Series A round.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Pinterest, Shopify.
- The Pritzker Organization
- Details: The Pritzker Organization is a private investment firm that manages the business interests of the Pritzker family. They led Raise's second seed round.
- Investment Focus Areas: Technology, real estate, industrials.
- Notable Investments: Hyatt Hotels, Triton Container, Marmon Group.
What's Next for Raise?
Raise is poised to revolutionize the gift card industry with its blockchain-powered Smart Cards, aiming to transform gift cards into programmable retail currency. With the global gift card market projected to exceed $2.3 trillion by 2030, the opportunities for Raise are immense. The company has already facilitated over $5 billion in transactions and boasts nearly 7 million users and more than 1,000 retail partnerships.
Future fundraising opportunities appear promising, given the recent $63 million funding round led by Haun Ventures. This financial backing will enable Raise to expand its blockchain initiatives and partnerships, potentially attracting further investments. However, the company will need to navigate regulatory frameworks and ensure the security and interoperability of its blockchain solutions to maintain its competitive edge.
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