Total amount raised
$210.2 Millions
Latest funding date
Location
Raise has successfully raised $63 million in its latest funding round, backed by investors such as Amber Group and Pharsalus Capital. The platform offers a digital marketplace for buying and selling gift cards, enabling users to earn savings and rewards.
Continue reading to delve into Raise's fundraising journey and discover the investors supporting this innovative digital payment platform.
What Is Raise?
Founded in 2013 by George Bousis, Raise is a digital payment platform based in Chicago, Illinois. The company operates a marketplace where users can buy and sell gift cards at a discount, offering a unique way to save on everyday purchases.
Raise also features a rewards program that allows customers to earn points on their transactions, which can be redeemed for future savings. This innovative approach has attracted a significant user base and numerous retail partners.
With a team of 101-250 employees, Raise continues to redefine the digital gift card industry, focusing on building the future of loyalty and rewards.
How Much Funding Has Raise Raised?
- Seed Round
- Amount Raised: $600K
- 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 initial market entry.
- Seed Round
- Amount Raised: $4.5M
- 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: $20.1M
- Date: November 2013
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the marketplace's features.
- Series B
- Amount Raised: $62M
- Date: January 2015
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and develop new product offerings.
- Series C
- Amount Raised: $60M
- Date: September 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology infrastructure and support rapid growth.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To maintain momentum and explore new market opportunities.
- Venture Round
- Amount Raised: $63M
- Date: February 2025
- Lead Investors: Haun Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop blockchain-based gift card programs and expand the Retail Alliance Foundation.
Total Amount Raised: $210.2M
Current Valuation: Not publicly disclosed
Key Investors
- Haun Ventures
- Details: Haun Ventures led the $63 million funding round for Raise. The firm is known for its focus on blockchain and cryptocurrency investments.
- Investment Focus Areas: Blockchain, cryptocurrency, Web3 technologies.
- Notable Investments: Not publicly disclosed.
- Amber Group
- Details: Amber Group participated in the recent funding round for Raise. The company specializes in digital assets and blockchain technology.
- Investment Focus Areas: Digital assets, blockchain technology, financial services.
- Notable Investments: Not publicly disclosed.
- Accel
- Details: Accel is a previous investor in Raise, known for backing technology startups. The firm has a strong track record in the tech industry.
- Investment Focus Areas: Technology startups, innovative companies.
- Notable Investments: Not publicly disclosed.
- New Enterprise Associates (NEA)
- Details: NEA is a significant investor in Raise, having participated in earlier funding rounds. The firm is one of the largest venture capital firms globally.
- Investment Focus Areas: Technology, healthcare, innovative sectors.
- Notable Investments: Not publicly disclosed.
- Pharsalus Capital
- Details: Pharsalus Capital has been involved in multiple funding rounds for Raise. Specific details about the firm are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Raise?
Raise is poised to capitalize on the burgeoning blockchain technology trend, with opportunities like the development of their Smart Cards and the expansion of the Retail Alliance Foundation. These initiatives aim to create a secure, interoperable gift card network, tapping into a market projected to exceed $2.3 trillion by 2030. Partnerships with major financial institutions and digital wallets further bolster their growth potential.
Future fundraising rounds seem likely as Raise continues to innovate and expand. However, challenges such as navigating regulatory frameworks and ensuring technological security could pose hurdles. The company's ability to manage these complexities will be crucial for sustained success.
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