Ibotta operates a free mobile shopping app that offers cash back on purchases from more than 1,500 leading brands and retailer partners. Led by founder and CEO Bryan Leach, the app has delivered over $600 million in cumulative cash rewards and has been downloaded more than 35 million times since its 2012 launch. In 2019 the company introduced Pay with Ibotta™, a payments solution that lets shoppers pay through the app and instantly earn cash back on entire purchases. Ibotta intends to use the proceeds of its latest financing to continue expanding operations and broaden its business reach. The company’s business model centers on driving consumer rebates and retailer partnerships via its mobile platform and payments capabilities. The fundraising values the company at $1 billion. Ibotta partners with brands and retailers to offer rewards on groceries, electronics, clothing, gifts, home and office supplies, restaurant dining and more. Launched in 2012 by CEO Bryan Leach and based in Denver, the company rewards consumers for everyday purchases across online, mobile and in-store channels. It recently expanded its Mobile Marketplace with 20+ additions, including brands such as Uber, iTunes, Booking.com, Boxed, eBay, Groupon, Hotels.com and Jet. Ibotta has nearly 23 million downloads. The company says it will use proceeds from the round to continue expanding operations. Financial terms and valuation for the C-1 round were not disclosed. Ibotta is a mobile shopping app that gives consumers cash back on purchases by partnering with brands and requiring engagement actions like trivia, videos, quizzes, and social sharing. Users tap items in the app, complete interactions, scan barcodes and upload photos of receipts to verify purchases and redeem cash awards. The app has been downloaded over 10 million times and its users have saved a combined $40 million in awards; users open the app about 25 sessions per month with average session lengths exceeding four minutes. Ibotta offers savings at over 500,000 stores across the U.S. and features roughly 1,000 brands on the platform. The company plans to ship an updated, personalized app version before year-end and is expanding into new lines including media businesses and an analytics service called Ibottalytics. Ibotta’s team is about 105 people, mostly based out of its Denver headquarters. Ibotta provides mobile coupons that shoppers unlock by completing tasks (sending tweets, posting on Facebook, watching videos, playing trivia, or answering polls) and then receive cash rebates via Venmo, PayPal, or gift cards after purchase. The app is available on iOS and Android and is partnered with 80 retailers across more than 100,000 U.S. locations, including Walmart, Target, Best Buy, Sephora.com, Home Depot, and others. Shoppers can use unlocked coupons at partner or nonpartner retailers, though purchases are easier with partner companies. The company positions its product as a way for retailers to drive and measure both in-store and online sales and to assess which media engagements most influence purchases down to the item level. Financially, Ibotta is in its second funding round of $20 million led by Jim Clark and previously raised an undisclosed amount from Great Oaks Venture Capital. Jim Clark is joining Ibotta's board as part of the investment. Ibotta is a mobile savings app that delivers cash back by having users engage with brand content (polls, trivia, videos, recipes, social tasks) and then upload grocery receipts to redeem offers. The app partners with major consumer packaged goods firms and manages offers on a virtual shelf, with each product offering multiple tasks that typically pay $0.25–$0.75. Early traction includes 100,000 registered users in the first 75 days, frequent top-75 App Store rankings in the lifestyle category, and 35 million offers viewed since launch. The company reports relationships with roughly 75–80 brands (including Coke, Kraft, Kellogg’s, Johnson & Johnson, Pfizer, Colgate, and Clorox) and has driven 3,000–5,000 video views for select brand pilots with budgets around $50,000. Demographically, the user base skews younger (45% ages 25–34 and 20% ages 15–24). Ibotta is a team of fifteen based in Denver and says it is in talks to expand beyond CPG (for example, DVDs) and may add store-specific shopping incentives in the future. The company has raised a $3 million seed round (closed in March) from angel investors.

Total raised

$63M

Funding rounds

5

Latest round

Series C

Latest activity

Sep 2015