Offers.com has closed a USD7m growth equity investment from Susquehanna Growth Equity.
The Austin-based savings resource specialises in the online coupons and deals segment.
The minority investment will help the company accelerate its 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 online stores and companies.
Offers.com 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“Nothing is more frustrating to a consumer than trying to use out-of-date, inactive or useless coupons online, which is why we spend the time and money to validate every offer on our site, ensuring a high-quality user experience.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,” says Steve Schaffer, founder and chief executive 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,” says 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 per cent increase.
