River Island and L'Oreal-utilised technology secures $15 million to fuel roll-out

Digital marketing software venture Offerpop has taken its equity fundraising total to $25 million on the back of a Series C round.

Edison Ventures, Heart Ventures and corporate backer salesforce.com are joining an existing investor pool containing Windcrest Partners, CommonAngels and Mesco at tech firm Offerpop.

The New York and London-based company has closed its latest round, worth $15 million (£9 million), and will now use the funds to speed up the development of its ‘next-generation’ platform for mobile and social consumers.

Since setting up in 2009, Offerpop has gone on to secure 2,000 enterprise and mid-market brands as partners, and now has plans to open further global offices.

Wendell Lansford, CEO of Offerpop, says that his business is tapping into the growing trend of user-generated content being the most ‘powerful’.

‘Offerpop provides a complete solution for this new reality, allowing brands to adapt to a new marketing landscape driven by social and mobile consumers and content creators,’ he adds.

Offerpop’s previous funding rounds saw the business close a Series B round worth $5.7 million in December 2012 and two separate Series A transactions – one for $2.5 million in September 2011 and another worth $1.3 million in October 2010.

Clients including L’Oreal and Comedy Central are currently using Offerpop’s service to capture consumer data and then move conversions and revenue across digital channels.

Edison Ventures partner Ryan Ziegler comments, ‘New mobile and social technologies are transforming how consumers interact with brands, and as a result a new category of marketing software is emerging that is strategically important to the CMO.

‘With its bold vision, business momentum and unique solution, Offerpop is in a commanding position to lead this market shift, and help redefine how marketers engage with consumers.’

During the last year, Offerpop has nearly tripled its revenue, has opened its EMEA headquarters in London and doubled employee count.

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

Related Topics

Early Stage Funding