Friday, August 3, 2012

FiveStars Gets Funding From Partovi Brothers

FiveStars Bay area startup focused on loyalty and rewards cards has scored more funding from Seattle angel investor Hadi Partovi, along with his brother Ali, as well as venture firms Lightspeed Venture partners, DCM, YCombinator, Mayfield, and Chamath Palihapitiya. FiveSTars said Thursday it raised $13.9M in a Series A funding round, to go towards product development and growth. FiveStars provides a swipe-able, single card which allows users to earn rewards from different retailers and merchants. FiveStars said it is looking to make it easier for merchants to run loyalty and reward cards, while reducing the hassle of consumers having to carry different cards to stores. More information »