Total amount raised
$92.9 Millions
Latest funding date
8/1/2019
Location
Ibotta has successfully raised significant capital through multiple funding rounds, with its latest being a Series D round. The platform offers a unique way for consumers to earn cash back on their purchases, both online and in-store.
Keep reading to explore the intricacies of Ibotta's fundraising journey and the investors backing this innovative platform.
What Is Ibotta?
Ibotta, founded in 2011 by Bryan Leach, is headquartered in Denver, Colorado. The company offers a platform where users can earn cash back on purchases made both in-store and online at various retailers.
With a workforce of 501-1000 employees, Ibotta partners with numerous brands and retailers to provide consumers with cash back rewards. The platform includes a mobile app, browser extension, and the Ibotta Performance Network (IPN).
Users can add offers, submit receipts, and withdraw earnings, making it a convenient way to save money on everyday purchases. Ibotta's innovative approach has made it a popular choice for savvy shoppers.
How Much Funding Has Ibotta Raised?
- Series A
- Amount Raised: $7.9M
- Date: April 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and expand the user base.
- Series B
- Amount Raised: $20M
- Date: June 2014
- Lead Investors: James Clark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the app's features.
- Series C
- Amount Raised: $40M
- Date: September 2015
- Lead Investors: James Clark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology infrastructure.
- 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 enhance the platform and increase user engagement.
- Series D
- Amount Raised: $25M
- Date: August 2017
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand partnerships and improve app functionality.
- 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 replace traditional paper coupons with a modern app-based solution.
Total Amount Raised: $92.9M
Current Valuation: $1 billion
Key Investors
- Koch Disruptive Technologies
- Details: Koch Disruptive Technologies (KDT) is a subsidiary of Koch Industries, one of the largest privately held companies in the world. KDT focuses on partnering with high-growth companies that are innovating in their respective fields.
- Investment Focus Areas: Technology, energy, industrials, consumer products
- Notable Investments: Not publicly disclosed
- Notable Capital
- Details: Notable Capital is a venture capital firm that invests in early to growth-stage companies. They focus on providing strategic support and capital to help companies scale.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Not publicly disclosed
- James Clark
- Details: James Clark is an individual investor known for his involvement in various tech startups. He has a background in software engineering and venture capital.
- Investment Focus Areas: Technology, software, 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 increasing 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 expanding their user base and partnering with more retailers is immense. The introduction of the Pay with Ibotta™ feature further enhances their market position by offering instant cash back on purchases.
Future fundraising opportunities seem promising as Ibotta demonstrates continued growth and market penetration. The successful Series D round, led by Koch Disruptive Technologies, sets a strong precedent for attracting additional investors. However, challenges such as maintaining compliance, managing fraud, and staying competitive in a crowded market will require strategic focus and innovation.
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