CashStar, a Portland, Maine-based digital gifting business has secured $12m in funding.
The round was led by FTV Capital, with participation from existing investors Steven Boal, president and CEO of Coupons.com, and Passport Capital.
In conjunction with the funding, Chris Winship, FTV Capital partner, has joined the company’s board.
CashStar intends to use the funding to drive continued adoption of its solutions and grow its retail brand network, which includes Mandarin Oriental Hotel Group, Starbucks, Gap, Best Buy, Williams-Sonoma, The Home Depot, Staples and the more than 200 brands.
These companies leverage the company’s platform to integrate digital gifting strategies into their B2B and B2C marketing and engagement offerings to increase sales and customer loyalty.
CashStar is led by CEO David Stone.