Toronto-based Flipp, a mobile consumer marketplace that provides access to flyers from over 800 retailers, has received $61 million from General Atlantic, a global growth equity firm that provides capital and strategic support for growth companies.
Flipp’s digitized marketplace for flyers allows consumers to easily prepare weekly shopping trips, while retailers get access to consumer insights that assist with executing future marketing strategies. The platform allows retailers to integrate with social media channels like Twitter, Facebook, and Google — as well as media parties like MSN, Microsoft, and the Chicago Tribune — for greater distribution scale than print. The company said that its platform reaches 50 million consumers, and represents 140,000 store fronts.
“Flipp is helping retailers transform their marketing strategy. It’s exciting to see how our technology is enabling retailers to achieve incremental store trips, increased consumer engagement, and a higher ROI with reduced costs,” said Wehuns Tan, CEO and co-founder of Flipp. “General Atlantic’s expertise in global expansion and significant capital base will enable us to grow our footprint, extend our partnerships, and further accelerate how we deliver innovation into the hands of consumers around the world.”
Flipp boasts customers like Walmart, Macy’s, Dollar General, and Lowe’s, and it has over 250 employees worldwide.
“As newspaper consumption continues to erode, we believe Flipp is uniquely positioned to disrupt one of the last remaining vestiges of the print advertising world, the weekly sales circular, by providing innovative digital content management technology to retailers,” said Zachary Kaplan, VP of General Atlantic’s Internet and Technology sector. He continued, “There is a significant opportunity in this market for Flipp to deepen its partnerships, broaden its consumer base, and expand its offerings globally. We look forward to working with Wehuns and his team as they continue to accelerate growth.”