Wildfire Systems Inc., an innovative financial technology platform that powers rewards and loyalty programs, today announced that it has secured $ 15 million in Series A venture capital investment co-led by TTV Capital and QED Investors.
New investors include B Capital, the George Kaiser Family Foundation and Daher Capital, joined by existing investors such as Mucker Capital, Bonfire Ventures, Moonshots Capital and BAM Ventures.
Wildfire® will leverage the funding to expand the launch of its new white-label monetization platform that enables partner businesses to integrate social commerce, rewards and cashback offers into existing customer journeys. Not only does Wildfire generate additional revenue for merchants, it also enables partner businesses to generate revenue through organic and daily shopping and social sharing, while increasing customer retention and loyalty.
Wildfire’s versatile platform helps partners across a wide range of industry verticals, such as financial institutions, search engines, browsers, rewards services, telecom providers, and device OEMs. Wildfire’s impressive list of partners includes Acorns and Microsoft. Microsoft has integrated Wildfire coupons and cashback into the Edge browser and Bing search engine to empower users to make purchasing decisions with confidence, saving them time and money.
Wildfire powers Acorns white label desktop extension for Acorns Earn, its unprecedented rewards program that allows customers to earn money from over 12,000 brands when they shop.
“Wildfire has been a valuable partner in supporting the growth of Acorns Earn,” said Babak Farrokh-Siar, vice president, national business development for Acorns. “Their technology and business platform has broadened the ways our customers can earn money for their future when they shop. ”
Wildfire founder and CEO Jordan Glazier is a former eBay executive who led the e-commerce pioneer’s three biggest markets. He was also previously CEO of Eventful, a leading digital service connecting consumers to local entertainment and events acquired by CBS in 2014.
“Our platform is ideal for partners who want to add differentiated value to their users by meeting buyers where they are,” said Jordan Glazier, Founder and CEO of Wildfire. “This funding round will support our accelerated growth with existing and new partners, and allow us to continue to deliver on our vision to monetize organic trade everywhere.”
“Until now, it has been difficult for companies to drive social commerce, roll out rewards programs for their users at the right time in the customer journey, and monetize organic word-of-mouth referrals. Wildfire solved these issues with versatile infrastructure software and an orchestration layer that rewards users while enabling merchants to drive conversion, starting at the top of the customer funnel, ”said Neil Kapur, Partner , TTV Capital. “We are thrilled to be a part of the Wildfire story and look forward to supporting Jordan and his team in transforming the fintech and e-commerce retail markets. “
“Wildfire enables any financial institution to monetize and reward users’ organic purchases on desktop and mobile, making it a driving force behind financial services innovation and the ideal organization to join our portfolio,” said said Laura Bock, Director, QED Investors. “There is a huge opportunity for financial services to improve their online shopping rewards offerings. This opportunity is the reason PayPal made Honey its biggest acquisition and the reason Capital One created Capital One Shopping. ”
A handful of companies have recently made significant acquisitions to integrate rewards offerings for their users, including PayPal (acquired Honey), Capital One (acquired Wikibuy to launch Capital One Shopping) and Rakuten (acquired Ebates). In contrast, Wildfire uniquely provides a white label platform that allows any business to extend savings and rewards to their users through cash backs, digital coupons, and social sharing incentives. Its patented suite of technologies allows partners to integrate Wildfire into their platform or application to detect and monetize end-user purchases and social sharing.