flexReceipts Completes YCombinator, Secures $2.5M in Funding
Orlando— flexReceipts, the leading enhanced digital receipts solution, today announced it raised $2.5M in additional funding. This round, which brings the total funding raised to date to $5 million, was led by Point Judith Capital, a Boston-based VC firm that focuses on consumer and enterprise technology investments. Synchrony Financial also joined as a strategic investor alongside YCombinator, Altair Venture Capital, Struck Capital and reinvestments from venVelo, Angel Round Table; and other angel investors. flexReceipts’ smart email receipts allow retailers to better engage customers post-purchase by creating dynamic and personalized e-receipts that contain embedded images, targeted product recommendations based on past purchases and item-level social media sharing links. Now in more than 7,000 retail locations, flexReceipts’ banner clients include Rooms to Go, GNC, Aldo Shoes, Gander Mountain and several independent retailers like La Perla and Paige Denim.
Sean Marsh of Point Judith Capital said of the new partnership: “I focus on investing in people who have a real passion for what they are doing and who have the drive, intellect and a will to win that enables them to recruit A+ talent to build their team. Tomas and Jay embody this in every way and the result is a leading product in the e-receipt market.”
Neeraj Mehta, Executive Vice President, Business Strategy & Development at Synchrony Financial said, “This strategic investment furthers Synchrony Financial’s focus on innovative technologies that provide rich data analytics and frictionless digital customer engagement. We look forward to leveraging flexReceipts’ digital solutions and Point of Sale (POS) integration to help our retail partners improve the shopping experience for their customers.”
This investment comes on the heels of flexReceipts’ completion of the acclaimed Y Combinator business accelerator program. flexReceipts joins an elite group of start-ups that have completed the Y Combinator program including Airbnb, dropbox and Reddit.
"We accepted flexReceipts because we thought the founders were smart and tenacious and were impressed with their unique solution to a key problem for retailers, customer engagement. During YC, flexReceipts made excellent progress improving their sales process and gaining new customers,” said Geoff Ralston, Partner, Y Combinator
About flexReceipts flexReceipts, the leading enhanced e-receipts solution, offers retailers a post-sale opportunity to communicate with their customers. flexReceipts’ smart email receipts build customer loyalty and drive sales, while allowing retailers to monitor spending habits and shopping trends. The company’s patented software allows retailers to add social media links, videos and customized offers to digital receipts. Go Beyond the Sale. Learn more at http://flexreceipts.com/.