Mogl Network, a San Diego, CA-based provider of an Online to Offline Commerce platform, closed an additional $8m in funding.
The round was led by Aequitas Capital Management with participation from Avalon Ventures, Correlation Ventures, Sigma Partners, Sysco Ventures, Monroe Capital and Moore Venture Partners.
The company, which has now raised $35m in total, will use the funds to launch their new service – Mogl Network.
Led by CEO and co-founder Jon Carder, Mogl provides Mogl Network, an online to offline real-time commerce platform which aims to track someone from seeing an ad online to making a purchase offline. This is accomplished via a direct partnership with Visa®, MasterCard® and American Express®.
In details, it works by allowing offline merchants to create an offer, like 10% cash-back, that is displayed on Mogl Network participating websites and apps. Consumers see the offer online, link up a debit or credit card through the participating website or app, make a purchase offline and instantly get rewarded.
The merchants pay a fee for the actual sale delivered, and the revenue is shared between the participating websites, app, and the Mogl Network.
Currently in private beta with some large websites and apps, Mogl Network will release publically later this year.
FinSMEs
12/08/2015