Mobile rewards platform publisher Ibotta has announced a Series D funding round led by Koch Disruptive Technologies, bringing the company to a $1 billion valuation and “unicorn” status. One of Colorado’s fastest-growing consumer tech companies, Ibotta will use the funds to improve its reward payment solution, Pay with Ibotta.
Ibotta says its mission is to make every purchase rewarding. The company’s rewards platform allows shoppers to pay for purchases through the Ibotta app and earn cash back instantly.
“While we’ve reached the point of critical-mass awareness when it comes to paying with our phones, there’s still one piece missing on the path to true adoption: rewards,” says Ibotta CEO Bryan Leach. “Through a shared vision with KDT and our expertise in rewards and consumer psychology, we are best-positioned to transform the emerging $100 trillion global payments market. The excitement of cash rewards will be the flash point in changing consumer behavior and driving adoption of new forms of mobile payments worldwide.”