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News & Features Technology Offers.com secures $7 million in Series A funding

Offers.com secures $7 million in Series A funding

Written by Offers.com on Wednesday, 27 October 2010 13:44
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Offers.com today has closed a $7 million growth equity investment from Susquehanna Growth Equity, LLLP. The Austin-based savings resource is a leader in the online coupons and deals segment. Offers.com has been self-funded - and profitable - since inception.

This minority investment will help the company accelerate its rapid growth and expansion plans. Offers.com was launched in February 2009 with the goal of helping consumers find the right offers, coupon codes and online deals for their needs from leading online stores and companies.

Offers.com focuses on delivering dependable and reliable offers by providing quality editorial content. Offers.com's editors and content specialists verify, rate, categorize and update all offers on a daily basis. The site is built on a proprietary platform, uses the highest quality design and is recognized as a leader in the space by advertisers and affiliate networks alike. Last month Offers.com was awarded Commission Junction's Publisher of the Year award, which recognizes the publisher that has achieved the largest year-over-year increase in revenue and greatest percentage of growth. Offers.com also recently launched Offers.com Canada and Offers.com UK.

"Nothing is more frustrating to a consumer than trying to use out-of-date, inactive or useless coupons online, which is why we spend the time and money to validate every offer on our site, ensuring a high-quality user experience. Clearly this resonates with consumers and our advertising partners, as demonstrated by the exceptional growth of Offers.com since launch," said Steve Schaffer, founder and CEO of Offers.com. "We are anxious to take Offers.com to the next level, and our investment from Susquehanna Growth Equity will help us dramatically accelerate our growth."

"We have been watching Offers.com and the online coupons and deals space for well over a year and we are confident that Offers.com will expand its leadership position," said Jonathan Klahr, director, Susquehanna Growth Equity. "Offers.com has a different approach, with their focus on quality, the great platform they have built, and the talent of their development, product, editorial and partner management teams. We are thrilled to be a part of the next chapter for Offers.com."

The investment will also be used for marketing, product management, product development and additional acquisitions. Offers.com plans to increase staff by adding over 20 new full-time employees over the next year, a 50 percent increase. Offers.com was advised on the transaction by Pharus Securities, a leading boutique investment bank for Internet and digital media companies.

 

About Susquehanna Growth Equity

Susquehanna Growth Equity, LLLP (SGE) is a private equity group investing in growth capital and buyout opportunities in information services, Internet, software and financial technology. SGE's team of dedicated investment professionals brings a unique set of experiences, combining venture investing with operational expertise. SGE is a member of the Susquehanna International Group of Companies (SIG), a privately held, global financial institution specializing in trading and market making. SIG includes affiliated entities specializing in institutional sales and trading, research, private equity, and venture capital. SIG employs approximately 1,500 individuals located in North America, Europe, Asia, and Australia. For additional information please visit www.sgep.com.

 

About Offers.com

Offers.com is a leader in the online coupon and deals space. Offers.com saves consumers time and money by helping them find the best offers from more than 3,000 online stores and companies. Offers.com has grown since initially launching in February 2009 to over 200 categories including travel, software and electronics, clothing, shoes, and more. The site has more than 15,000 of the best offers including promotions, coupons and coupon codes, deals, free trials, and free offers. Offers are verified, rated and updated daily by the Offers.com editorial team. With the My Offers Locker™, users can watch offers, categories and stores, and receive updates via email or on Facebook when offers are added or changed.

Award-winning Offers.com is published by Vertive, LLC. Since launch, Offers.com has been recognized with some of the leading industry awards including the 2010 Commission Junction's Publisher of the Year Award, the 2009 Commission Junction's People's Choice award and the 2009 LinkShare's Innovative Publisher award. Offers.com is a Charter Corporate Member of the Performance Marketing Association (PMA), and CEO Steve Schaffer served as the first president of the PMA board of directors. Offers.com is privately funded, has been profitable since launch and is based in Austin, Texas.

 

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Last modified on Thursday, 28 October 2010 12:19

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