Online coupon marketplace WhaleShark Media has received $150m of funding from JP Morgan Asset Management and Institutional Venture Partners (IVP), bringing the company’s total financing to nearly $300m.
The investment follows funding by venture capital firms Austin Ventures, Norwest Venture Partners, Adams Street Partners, and Google Ventures.
The capital will be used to support organic growth through key strategic technology and personnel enhancements within the organisation and additional growth from new acquisitions.
WhaleShark operates a global portfolio of brands, including RetailMeNot.com and VoucherCodes.co.uk, the largest online coupon sites in the US and Europe respectively.
The sites receive more than 300 million visits from consumers annually. Consumers save an average of nearly $20 dollars on products and services every time they use one of the company’s more than half million coupons, promotional codes and deals. ·
WhaleShark connects consumers seeking discounts with more than 130,000 merchants, stores and retailers. The company employs around150 staff, who operate through its Austin, Texas, headquarters and London, UK, offices.
Robert Cousin, a managing director at JP Morgan Asset Management, said, “WhaleShark Media’s marketplace has tapped into a time-tested Internet model of moving offline behaviors, like clipping coupons out of your Sunday newspaper, online.
“We led this round due to WhaleShark’s global leadership position, scalable growth, profitability and skilled management,” he added.
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