About Drop Technologies
Drop helps consumers earn points through everyday purchases using a free mobile app. Users can accumulate points by shopping at over 500 partnered brands, investing in cryptocurrencies, and playing games, which can be redeemed for gift cards and other rewards. The company collects anonymized transaction data to provide insights to retail partners while ensuring user privacy through advanced encryption methods. With over 5 million members, Drop aims to make earning rewards effortless and secure.
Toronto, CanadaHeadquarters
2016Year Founded
$70.9MTotal Funding
SERIES_BCompany Stage
Data & Analytics, Cybersecurity, Consumer GoodsIndustries
51-200Employees
Risks
Increased competition from platforms like Rakuten and Honey could impact Drop's market share.
Economic downturns may reduce transaction frequency and volume on Drop's platform.
Regulatory changes in data protection laws could affect Drop's data collection practices.
Differentiation
Drop uses machine learning to match consumers with over 400 partner brands.
The app offers rewards for shopping, investing in crypto, and playing games.
Drop ensures data privacy with advanced encryption and TLS during data transmission.
Upsides
Drop's focus on personalization aligns with growing trends in the rewards sector.
The integration of gamification can increase user interaction and spending.
Cryptocurrency rewards appeal to tech-savvy consumers interested in digital currencies.
Funding
Total raised$70.86 M
Latest valuation$220.00 M
StageSERIES_B
SERIES B
2/28/2019$44
$220.00 MSERIES A
12/31/2017- Rogue Insight Capital
- Mayfield Fund
- Chris Michel
- Naval Ravikant
- Tom Williams
- Portage Ventures
- Bryan Rosenblatt
- Two Small Fish Ventures
- James Currier
- Kleiner Perkins
- Mayfield
- First Round
- Sierra Ventures
- Marcus Segal
- ff Venture Capital
- Kamal Ravikant
- Cowboy Ventures
- NEA
- Rick Yang
- Radical Ventures
- New Enterprise Associates
- HOF Capital
- Rick Marini
- ACME Capital
- White Star Capital
$21
$105.00 MSEED
8/31/2013$1
$6.75 M