Here at Fetch, we have a mantra: Defeat The Odds!
Embracing this rallying cry has empowered our team to push through obstacles over the years, and we’ve emerged even stronger as a result. As founder, it’s humbling and inspiring to see the level of dedication, talent, and innovation that the Fetch team brings every day. This collective effort and commitment to our shared vision has allowed Fetch to grow from a virtually unknown Midwestern tech startup into America’s top consumer-loyalty platform in just five years.
Today, I’m proud to announce that Fetch Rewards has closed $240 million in debt and equity in a funding round led by Hamilton Lane, one of the world’s largest private market investment firms, at a valuation greater than $2.5 billion. This capital will continue to fuel the next phase of our exponential growth while allowing us to make strategic, long-term investments that will ensure a profitable and sustainable future for the company.
This is a challenging time for startups seeking investment – macroeconomic issues like inflation, interest rates, geopolitics, and market volatility are impacting later-stage companies’ ability to secure funding, and for many who do receive investments, valuations are coming down.
At Fetch, we’ve never put too much focus on our valuation – we’ve always been more interested in dreaming up new ways to make our product more delightful, more rewarding, and more valuable for brands and consumers. But it’s validating to know that, even in this difficult environment, our closest strategic partners agree that Fetch is one of these “special companies” that can defeat the odds – and that there are enormous growth opportunities still ahead.
“We are thrilled to be leading this fundraising round,” said Jeffrey Armbrister, Global Head of Direct Equity Investments at Hamilton Lane, a primary investor in this funding round. “Fetch has transformed the consumer-rewards space and has emerged as a leader in the category, and we believe there’s still a significant growth opportunity ahead.”
What this round of funding means, on a day-to-day level, is opportunity through stability. With a firm foundation and investment in the future, the Fetch team is given the opportunity to continue doing what we’ve always done: delighting the more than 13 million active users of our platform, and expanding that audience to reach new heights and new markets.
This funding round also includes a newfound partnership with NielsenIQ, the leading global provider of consumer insights and analytics, and represents the beginning of a long-term relationship that will supercharge new product capabilities and enhance both parties’ ability to provide world-class actionable insights.
Additionally, our partnership with TelevisaUnivision, also part of this funding round, enhances our deep commitment to serving our Spanish-speaking users and will allow us to bring the magic of Fetch to even more communities. We’re so excited to debut Fetch Español later this year. Stay tuned!
While this announcement feels like the culmination of five years of effort on the part of the entire Fetch team (and our users, the Fetch Fam, who have supported our app from the beginning), it’s merely the beginning. We look forward to the next five years and beyond.
Wes Schroll is the CEO & Founder at Fetch Rewards, and a serial entrepreneur, fundamentally rebuilding consumer-brand relationships to drive two-way value.
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