FiveStars Raises $50M

What does FiveStars do?

FiveStars, is a rewards program for small businesses which has proven to bring customers back more often. This company offers unique rewards and personalized services which helps every customer become a VIP. The company runs with the mission to aid communities and businesses thrive every transaction into a relationship. The company drove 35 M in store visits across over 10K local businesses in the United States and Canada. More than 10 M customers use this company to have the exceptional experiences with the local businesses.

How much FiveStars was funded?

FiveStars raised $50M in Series C on January 22, 2016 from DCM Ventures, Lightspeed Venture Partners, Menlo Ventures and HarbourVest Partners.

Previous funding

• $150K on January 1, 2011 from Start Fund and Y Combinator
• $2M on April 25, 2011 from Jake Winebaum, Mayfield Fund, DCM Ventures, Eric Stein,Chamath Palihapitiya and Vince Monical
• $14.5M in Series A on August 2, 2012 from Y Combinator, DCM Ventures, Mayfield Fund, Hadi Partovi, Ali Partovi and Lightspeed Venture Partners
• $26M in Series B on September 25, 2014 from Lightspeed Venture Partners, Rogers Communications Inc. DCM Ventures and Menlo Ventures

What is next for FiveStars?

 The company has raised a total of $92.65 M in 4 rounds and with the latest round of funding the company plans to help more consumers discover more businesses, earn a lot more rewards and experience the treatment VIPs receive everywhere. The company also plans to use the funding for hiring in all roles and functions, especially engineering and sales.

More about FiveStars

FiveStars was founded in 2011 by Victor Ho and Matt Doka. It has its headquarters in San Francisco, CA. The company was launched out of Y-Combinator 5 years ago, its aim now is to help SMBs and communities succeed by transforming every transaction into a relationship.