CashStar, a Portland, Maine-based digital gifting and incentives company, closed a $5m strategic round of funding. The round was led by Passport Capital, with participation from Allen & Company LLC.
The company intends to use the funds to further extend the list of retail partners and develop product and service offerings.
Through its platform, CashStar provides retailers e-gifting, mobile and social gifting offerings.
Customers include over 90 brands including Chili’s Bar and Grill, The Container Store, Gap, The Home Depot, Pizza Hut, Staples and Williams-Sonoma, which utilize the platform to drive incremental, higher-margin sales in-store and online and encourage customer loyalty.
The company is led by CEO David Stone.
FinSMEs
16/02/2011