FiveStars, a San Francisco, CA-based rewards program for small businesses, secured $50m in Series C funding.
The round was led by HarbourVest Partners with participation from Lightspeed Venture Partners, Menlo Ventures and DCM Ventures.
The company, which has raised $105m to date, intends to use the funds to expand operations and increase hiring in all roles and functions, especially sales and engineering.
Founded in 2011 by Victor Ho, CEO, FiveStars provides small businesses with a rewards program to bring customers back more often. The platform helps users identify every in-store customer by name, provide personalized service in-store, and continue to engage them out of store with personalized messages and rewards.
Launched out of Y-Combinator five years ago, the company drove 35 million in-store visits across over 10,000 local businesses in the U.S. and Canada in 2015.
FinSMEs
22/01/2016