CashStar, a Portland, Maine-based digital gifting and incentives partner for retailers nationwide, has raised $5m in new funding.
Backers include Intel Capital, and existing investors Passport Ventures, FTV Capital and Steven Boal, co-founder and Chairman of CashStar.
The company intends to use the funding for continued growth, mobile innovation and adoption in the digital gifting and incentives market.
Led by David Stone, co-founder and CEO, CashStar allows more than 250 brands to leverage eGifts via web, social media and mobile channels to increase sales and build loyalty with consumers.
Retail brands using the company’s platform include Best Buy, Chili’s Grill & Bar, CVS/pharmacy, Gap, Pottery Barn, QVC, Staples, Starbucks, T.G.I. Friday’s, The Home Depot, and Williams-Sonoma.