Total amount raised
$631.8 Millions
Latest funding date
Location
Fetch has successfully raised significant funding over multiple rounds, achieving a valuation that places it among the elite unicorns. The platform offers a unique consumer-engagement experience, allowing users to earn and redeem rewards through everyday activities.
Keep reading to explore the intricacies of Fetch's fundraising journey and the investors backing this innovative platform.
What Is Fetch?
Fetch, founded in 2013 by Tyler Kennedy and Wes Schroll, is a consumer-engagement platform based in Madison, Wisconsin. The company allows users to earn and redeem rewards by scanning their receipts, making everyday shopping more rewarding.
With a workforce of 501-1000 employees, Fetch provides a seamless way for users to save on purchases while offering brand partners valuable insights into shopping habits. The platform's unique approach has garnered significant attention and investment, solidifying its position in the market.
For more detailed information, you can visit their Crunchbase profile or their official website.
How Much Funding Has Fetch Raised?
- Series A
- Amount Raised: $4M
- Date: May 26, 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and develop the initial version of the platform.
- Series A
- Amount Raised: $4.5M
- Date: May 20, 2015
- Lead Investors: Great Oaks Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the user base.
- Series A
- Amount Raised: $9.6M
- Date: Sep 7, 2017
- Lead Investors: Loeb Enterprises
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform features.
- Series A
- Amount Raised: $8M
- Date: Nov 30, 2018
- Lead Investors: Greycroft, Headline, Loeb Enterprises
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve user engagement.
- Venture Round
- Amount Raised: $25M
- Date: Oct 1, 2019
- Lead Investors: Greycroft, Headline
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance technological capabilities.
- Series C
- Amount Raised: $80M
- Date: Nov 5, 2020
- Lead Investors: ICONIQ Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and invest in advanced analytics.
- Series D
- Amount Raised: $210M
- Date: Mar 31, 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance AI capabilities.
- Series E
- Amount Raised: $240M
- Date: Apr 7, 2022
- Lead Investors: Hamilton Lane
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and invest in new technologies.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: Apr 7, 2022
- Lead Investors: Hamilton Lane
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To diversify capital structure and support growth initiatives.
- Debt Financing
- Amount Raised: $50M
- Date: Mar 20, 2024
- Lead Investors: Morgan Stanley Private Credit
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product innovation and expand the user base.
Total Amount Raised: $631.1M. Current Valuation: Not publicly disclosed.
Key Investors
- Morgan Stanley Private Credit
- Details: Morgan Stanley Private Credit is a division of Morgan Stanley Investment Management, specializing in direct lending and opportunistic private credit investments. They provide flexible capital solutions tailored to meet the needs of companies in various operating environments.
- Investment Focus Areas: Private credit, debt financing, financial services.
- Notable Investments: Not publicly disclosed.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is one of the largest technology-focused venture capital funds in the world. It aims to accelerate the AI revolution through investments in market-leading, tech-enabled growth companies.
- Investment Focus Areas: AI, robotics, telecommunications.
- Notable Investments: Uber, WeWork, ByteDance.
- ICONIQ Capital
- Details: ICONIQ Capital is a privately-held investment firm and multi-family office. They manage the wealth of influential families and invest in high-growth technology companies.
- Investment Focus Areas: Technology, software, consumer internet.
- Notable Investments: Airbnb, Snowflake, Uber.
- Greycroft
- Details: Greycroft is a venture capital firm that invests in early and growth-stage technology companies. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Fintech, healthcare, e-commerce.
- Notable Investments: Venmo, The RealReal, Scopely.
- Hamilton Lane
- Details: Hamilton Lane is a leading private markets investment management firm. They provide innovative solutions to institutional investors worldwide.
- Investment Focus Areas: Private equity, infrastructure, real estate.
- Notable Investments: Not publicly disclosed.
What's Next for Fetch?
Fetch stands at the cusp of significant growth, driven by opportunities in product innovation, AI and machine learning, and user base expansion. With $50 million in recent funding from Morgan Stanley, Fetch aims to enhance its platform and attract top talent, positioning itself as a leader in the rewards app market. The company captures over $152 billion in transactions annually, highlighting the vast potential for further market penetration.
Future fundraising opportunities seem promising, given Fetch's strategic financial moves and profitability. The involvement of Morgan Stanley suggests potential for additional investments to support Fetch's ambitious growth plans. However, challenges such as navigating economic conditions, maintaining rapid growth, and integrating new technologies and talent effectively could pose hurdles. As Fetch continues to innovate and expand, it must also ensure data privacy and user satisfaction to sustain its competitive edge.
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