Flipp Corporation, a Toronto, Canada-based mobile consumer marketplace, received a $61m strategic growth investment.
With the deal, General Atlantic joined Insight Venture Partners as a minority shareholder. In conjunction with the funding, Zachary Kaplan, Vice President at General Atlantic, will join Flipp’s board of directors.
The company intends to use the funds for further expansion.
Led by Wehuns Tan, CEO and co-founder, Flipp provides a mobile marketplace that gives shoppers access to digital circular content from more than 800 retailers, representing over 140,000 store fronts.
Flipp’s technology enables retailers including Walmart, Macy’s, Dollar General, and Lowe’s to transform print circulars into a digital, personalized experience and reach millions of consumers through multiple channels including the mobile app as well as a distribution platform that is integrated throughout major media parties such as Google, MSN, Microsoft, and the Chicago Tribune. The platform also features analytics, which provides real-time metrics on sales and consumer engagement from both in-store and online channels.
The company currently has more than 250 employees in Toronto and New York.