Imagine using your credit or debit card, and receiving an instant rebate notification on your smartphone. Suddenly, that latte you ordered is a dollar off. That’s a pretty good deal–and it’s exactly the kind of thing edo Interactive wants retailers to offer their customers. Those who link their phones and cards to their edo accounts will be eligible to redeem such offers from participating merchants in real-time.
On Thursday, Sept. 13, edo announced a $15 million Series C funding, bringing their total financing to $54.3 million. This round was led by VantagePoint Capital Partners in conjunction with Chicago-based Baird Venture Partners–both returning investors from edo’s previous round–and its other existing investors.
Chief Revenue Officer Mark Marinacci says the funds will be used to invest in their staff, which has grown 30 percent since January. Any leftover money will be put toward expanding edo’s team here in Chicago as well as in Nashville.
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