Drop Technologies
Latest round
- Series C
Last raised
- Jul 2021
Total raised
- $92M
Investors
- 14
About Drop Technologies
Based in Canada, Drop Technologies Inc., founded in 2015 by Cameron Dearsley, Carla Jimenez, and Darren Fung, is headquartered in Toronto, Canada. The CEO of Drop Technologies Inc.Drop Technologies Inc. provides a rewards-based application designed to facilitate consumers in earning points on everyday purchases made through partnered retail brands. Users link their debit or credit cards to the app, which automatically tracks transactions at participating merchants, allowing users to accumulate points that can be redeemed for a variety of gift cards and rewards. The app primarily targets consumers who frequently shop online or utilize delivery services, appealing particularly to millennials and tech-savvy shoppers.Drop Technologies Inc. generates revenue primarily through partnerships with retail brands, leveraging anonymized transaction data to provide valuable insights to these partners. This partnership model supports a B2B dynamic, allowing retailers to benefit from increased customer engagement and enhanced sales through the rewards program. The structure enables seamless integration into everyday spending habits without direct charges to consumers, with revenue-sharing agreements based on transaction volumes facilitated by the Drop app.In July 2021, Drop Technologies Inc. The company plans to enhance its app features and introduce new rewards options, aiming for a broader reach in the North American market by the end of 2023.
Who invested in Drop Technologies
14 investors across 7 rounds
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Funding rounds
Series C
Jul 30, 2021
Amount
$18M
Investors
Series B
Aug 22, 2019
Amount
$44M
Investors
Series A
Jan 30, 2018
Amount
$21M
Investors
Seed
Oct 10, 2017
Amount
$5.5M
Investors
Seed
Feb 28, 2017
Amount
$3.8M
Investors
Seed
Jul 5, 2016
Amount
$0.8M
Investors
Seed
Nov 4, 2015
Amount
Undisclosed
Investors
Questions about Drop Technologies
Who invested in Drop Technologies?
Drop Technologies has 14 investors on record across 7 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Drop Technologies raised?
Drop Technologies has raised 7 venture rounds. Sign up free to see how much each round raised and the total.
When did Drop Technologies last raise money?
Drop Technologies's most recent round on record is a Series C, in Jul 2021.
What does Drop Technologies do?
Based in Canada, Drop Technologies Inc.
Where is Drop Technologies headquartered?
Drop Technologies is headquartered in Toronto, Canada.
Which VCs invest in companies like Drop Technologies?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back internet companies at Drop Technologies's stage. Their profiles are linked below.
VCs backing internet startups at Series C
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