Popwallet, the world’s only mobile wallet marketing automation platform, announced today Series Seed funding of $4 million led by Stout Street Capital. Additional investors include Loeb.nyc, 3Lines Venture Capital, IrishAngels, Cultivation Capital, MATH Venture Partners, Entrepreneurs Roundtable Accelerator, and angels from the marketing technology community.
“Mobile behavior used to be just about heads down experiences, playing games and scrolling social feeds,” said Elias Guerra, Founder and CEO of Popwallet. “But, consumer behavior is changing. The smartphone is increasingly becoming the interface between people and the world around them, whether paying for groceries at checkout, boarding a flight, using a student ID, withdrawing cash from an ATM, entering a movie theater, getting on the subway, or redeeming an offer or reward at a favorite store. Popwallet enables brands to be part of these experiences, right at the point of purchase or entry, all through the smartphone’s native mobile wallet that people are using more and more every day.”
Meg Bedford, VP of Customer Experience and Marketing at TUMI, a Popwallet client, said: “We’re always looking for new and innovative ways to engage mobile consumers while connecting store traffic and sales to digital communication. Popwallet provides that.”
Popwallet Popcard templates make mobile wallet card creation easy, with APIs that integrate those card experiences into other parts of the consumer journey. These integrations enable brands to realize mobile wallets as a powerful customer engagement channel alongside their existing marketing channels.
The full suite of Popwallet platform offerings include:
- Popdeal – Deliver a deal with manufacturer coupons, store offers, and rebates
- Poployalty – Build personal relationships with the most valuable customers
- Popgift – Reward customers with gift cards of any value
- Popaccess – Provide access and entry with branded tickets, passes, and invitations
- Popbrand – Tell stories with all kinds of lightweight branded content
“Popwallet addresses a growing need for brands to engage directly with their consumers. Brands are seeing diminishing rates of returns as consumers are increasingly tuning out conventional channels such as email, print, and even social media. We believe Popwallet is a game-changer for brands and is poised for massive growth and adoption,” said John A Francis, Partner at Stout Street Capital. Francis will be joining the board along with Guerra and Founder and CTO Wes Biggs.
The company will use this round of funding to increase its sales and marketing efforts, as well as develop additional partnerships and platform integrations. According to Guerra, the near-term focus is to increase mobile wallet activations across the enterprise ecosystem, where they’ve already seen success with clients like Mars and partners like Oracle. The SMB market is seen as a future growth opportunity.