Mobile retail startup shopkick grabs $15 million in Series B
Mobile retail solutions provider shopkick announced the close of a $15 million Series B financing round, bringing its total funding to $20 million--Greylock Partners led the new investment, with additional participation from Kleiner Perkins Caufield & Byers, Citi Growth Ventures & Innovation Group and SV Angel. Founded in 2009 by former CBS Mobile head Cyriac Roeding, shopkick's CauseWorld application enables users to earn actual money by visiting retailers and restaurants, then donate the proceeds to charity on behalf of sponsors--more than 550,000 iPhone and Android owners have downloaded the app since it rolled out late last year, and with the aid of partners including Citi, Kraft Foods and Procter & Gamble, CauseWorld users have provided 300,000 meals to people in the U.S., donated $100,000 to Haitian earthquake victims, planted 80,000 trees, given 30,000 books to children and offset 4 million pounds of carbon.
shopkick plans to introduce a new mobile retail app later this summer. The firm said the new funding will enhance its location-based shopping capabilities and accelerate partnership development.
For more on the shopkick funding:
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