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Offermatic Raises $4.5 Million From Kleiner Perkins And Top Notch Angel Investors

March 9th, 2011 03:15 admin Leave a comment Go to comments

Offermatic, which we dubbed the freak love child of Blippy, Groupon and Mint early on, has secured $4.5 million in funding in a Series A round led by early backer Kleiner Perkins Caufield & Byers.

A group of Silicon Valley investors, including Ron Conway, former AdMob CEO Omar Hamoui and early execs from Facebook and Mint.com, also participated in the round.

Hamoui will also join Offermatic’s board of directors.

The additional capital will be used to hire more people and expand its services for consumers and retailers, Offermatic says.

Launched in beta last December, Offermatic basically delivers personalized savings to consumers based on their spending history. By linking existing credit and debit cards to an Offermatic account, people receive automatic discount offers on products and services, without the hassle of redeeming coupons or vouchers.

The company says, combined with offering one-click automatic rebates, the conversion rate among beta users has been 15 percent or more, which it says is 15 to 30 times higher than the average for online coupons.

Source: Offermatic Raises $4.5 Million From Kleiner Perkins And Top Notch Angel Investors

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