Drop Technologies

Drop Technologies

Rewards app collecting anonymized consumer data

Overview

Drop runs a mobile rewards app where users earn points for shopping with 500+ partner brands, investing in cryptocurrencies, playing games, and more, which can be redeemed for gift cards and rewards. The app collects anonymized transaction data and shares aggregated insights with retailers, while keeping any personal information private and protecting data with encryption and TLS. Revenue comes from retail partners who pay for access to anonymized data, plus possible commissions from brands when users purchase through the app. Its focus on privacy and a large network of partners lets Drop offer a rewards ecosystem that benefits both users and retailers, aiming to make everyday spending more rewarding in a secure, easy-to-use way.

About Drop Technologies

Simplify's Rating
Why Drop Technologies is rated
D-
Rated D- on Competitive Edge
Rated D- on Growth Potential
Rated D- on Differentiation

Industries

Data & Analytics

Consumer Software

Cybersecurity

Company Size

51-200

Company Stage

Series B

Total Funding

$72.9M

Headquarters

Toronto, Canada

Founded

2016

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Simplify's Take

What believers are saying

  • Over 5 million North American and UK members drive scalable data monetization.
  • $44 million Series B in 2019 from HOF Capital and RBC fuels growth.
  • Retail partners pay for aggregated spending trends to optimize marketing strategies.

What critics are saying

  • App ceased functioning in 2026; credit cards fail to sync, killing operations.
  • September 2024 lawsuit in California District Court threatens financial ruin.
  • BBB declares Drop Technologies USA out of business, ending all activities.

What makes Drop Technologies unique

  • Personalized commerce platform matches users with 400+ brands using machine learning.
  • Anonymized transaction data shared with retailers for consumer insights without PII.
  • Free mobile app enables points earning on purchases, crypto, and games for gift cards.

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Funding

Total Funding

$72.8M

Meets

Industry Average

Funded Over

4 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$44M
Drop Technologies
$45M
Linktree
$65M
Substack
$100M
ClickUp

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

0%

2 year growth

0%
The Verge
Oct 17th, 2023
Drop's latest keyboard is equipped with a hot-swappable top case

Drop has launched the first in a lineup of new keyboards called the CSTM80.

SalesTechStar
Oct 1st, 2020
Drop Doubles Down on Personalization in Partnership With Button

Button, the leading mobile commerce technology company, announced that Drop, the app that provides rewards to millions of millennials

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