Reward and loyalty programme platform Wildfire Systems has announced its latest Series A funding round.
The company’s white-label monetisation platform allows companies to embed social commerce, rewards and cashback offers to increase customer loyalty and boost revenue from social sharing. The company targets verticals such as financial institutions, browsers, rewards services, telecom providers, device OEMs and search engines – with Microsoft integrating Wildfire coupons and chasback within its Edge browser and Bing search engine.
Its latest $15mn round was led by TTV Capital and QED Investors alongside existing investors Mucker Capital, Bonfire Ventures, Moonshots Capital, and BAM Ventures. New investors include B Capital, the George Kaiser Family Foundation, and Daher Capital.
“Our platform is proving to be an ideal fit for partners to add differentiated value to their users by meeting shoppers where they are,” said Jordan Glazier, founder and CEO, Wildfire. “This financing round will support our accelerating growth with existing and new partners, and allow us to continue to execute on our vision to monetise organic commerce everywhere.”
The company said it would use the funds to expand the launch of its platform.
“Until now, it’s been difficult for companies to encourage social commerce, deploy rewards programs to their users at the right point in the customer journey, and monetise word-of-mouth organic referrals. Wildfire has solved these problems with a versatile piece of infrastructure software and an orchestration layer that rewards users while also allowing merchants to drive conversion – starting at the top of the customer funnel,” said Neil Kapur, Partner, TTV Capital.
Widfire’s technology also allows its solution to be embedded within existing platforms and apps to detect and monetise the purchases of end users.
“Wildfire makes it possible for any financial institution to monetise and reward users’ organic shopping across desktop and mobile, making it one of the game-changers driving financial services innovation, and the perfect organisation to join our portfolio,” said Laura Bock, Principal, QED Investors.
“There is a huge opportunity for financial services to improve their rewards offerings for e-commerce purchases. This opportunity is the reason PayPal made Honey its biggest-ever acquisition and the reason Capital One created Capital One Shopping.”