San Francisco-based mobile rewards network Kiip has raised US$12 million in a Series C financing. The round, which brings Kiip’s total funding to over US$30 million, was led by U.S. venture capital firm North Atlantic Capital. It was joined by new and existing investors, including Canada’s Relay Ventures, which led the company’s Series B round in July 2012. Kiip was founded in 2010 by CEO Brian Wong, a Canadian entrepreneur and charter member of the C100, a Silicon Valley nonprofit that supports Canadian startups. Wong said Kiip’s Series C round “is representative of our continued execution towards leading the moments marketing revolution.”
Photo: Brian Wong, founder and CEO of Kiip Inc.
Kiip Raises $12mm in Series C, Showing Continued Growth in Moments Marketing
I’m excited to share with you today that Kiip has raised an additional $12mm in capital as part of our Series C, lead by North Atlantic Capital. New investors include US Cellular and North Atlantic, and existing investors are Relay Ventures, HWVP, Verizon Ventures, and True Ventures. We’re thrilled to welcome our newest investors to the family and are excited about the continued confidence from our existing investors.
In an industry of consolidation and confusing data, two pieces of clarity have emerged.
1. Brands want a better, non-interruptive way to engage with their consumers respectfully. Similarly, developers and publishers don’t want to lose users and readers because of poor user experience.
2. There is a big gap in the industry in understanding the mobile user – so to reward and advertise better, there needs to be more mobile-first profiles about who these consumers are.
Kiip is right at the center of this —at the center of the $22 billion dollar gap that can be closed and that we can command. We have, and have continued to create, non-interruptive moments and engagement when the consumer is the most receptive and attentive. Marketers know mobile is the way to go. They want to be a part of people’s everyday lives when they’re living in moments, not just when they decide to share on social media.
Ultimately, they want to advertise in moments. With ad blocking rampant, there needs to be differentiated solutions that operate at scale. And that’s why we’re all about creating 1:1 engagements at scale.
Our latest round is representative of our continued execution towards leading the moments marketing revolution. We have consistently delivered —from our industry-leading Nielsen results to industry-leading engagement rates at 19% to having one of the biggest audiences with mobile-first consumer data. Our product has evolved immensely to doing more in the moment:
Advertising in the moment – our industry leading video reward units and sponsored virtual currency products
Rewarding in the moment – our classic real-world reward product
Learning in the moment – our new survey product that helps consumers answer questions to receive more relevant rewards.
Monetizing in the moment – the best developer tool kit for monetizing your app without interrupting your users or changing your UX, a toolkit now being used by over 5,000 active apps.
Kiip is quickly becoming the staple in moments marketing and we’re excited to power moments that matter across hundreds of millions of consumers.
Onward and upward!
About North Atlantic Capital
North Atlantic Capital is a later stage venture capital firm based in Portland, Maine, investing nationally in enterprise technology companies. North Atlantic provides creative financing structures to high growth companies with differentiated technologies that address large market opportunities. Established in 1986, North Atlantic is currently investing its fifth fund, raised in 2014 and capitalized at $123 million. For more information on North Atlantic Capital and their current investment activities, visit www.northatlanticcapital.com.
About U.S. Cellular
U.S. Cellular is the fifth-largest full-service wireless carrier in the United States, providing national network coverage and industry-leading innovations designed to elevate the customer experience. The Chicago-based carrier has a strong line-up of cutting-edge devices that are all backed by a high-quality network in big and small cities and rural communities, and currently, 99 percent of customers have access to 4G LTE speeds. U.S. Cellular was named a J.D. Power and Associates Customer Champion in 2014 for the third time in four years. To learn more about U.S. Cellular, visit one of its retail stores or uscellular.com. To get the latest news, promos and videos, connect with U.S. Cellular on Facebook.com/uscellular, Twitter.com/uscellular and YouTube.com/uscellularcorp.
Posted on July 19, 2016 by Brian Wong, CEO, Kiip
Photo courtesy of Kiip Inc