Raise, a Chicago, IL-based large online marketplace for gift cards, raised $56m in Series B funding.
The round, which brought total funds to $81m, was led by New Enterprise Associates (NEA), with participation from Bessemer Venture Partners (BVP), the Pritzker Organization, Listen Ventures and other angels. In conjunction with the financing, Tony Florence, general partner at New Enterprise Associates will join Raise’s board of directors.
The company will use the funds to continue to grow operations.
Led by George Bousis, founder and CEO, Raise is a gift card marketplace, where members can save on gift cards to any brand and sell gift cards or store credit for cash. With the Raise iOS app, members can access to the marketplace on the go and instantly redeem cards or credit right at the store counter.
The company currently has 121 employees.