SavingStar, a Waltham, MA-based fully digital grocery savings service, has raised $9m in Series C financing.
The round was led by global venture capital firm DCM, with participation from existing investors Flybridge Capital Partners, First Round Capital, IA Ventures, board member and Buddy Media CEO Michael Lazerow, and Sir Keith Mills, founder of Loyalty Management Group.
The company intends to use the capital to expand its membership, bring new retailers into its network, and enable it to work with more brands.
Led by CEO David Rochon, SavingStar enables shoppers to save money on their groceries by linking special offers found on SavingStar.com, or the company’s iPhone and Android apps, to their grocery and drug store loyalty cards. Its offers are redeemable at over 24,000 stores nationwide.
In conjunction with the funding, Tom Blaisdell, general partner at DCM, will join the company’s board.