Overview

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. Drop's goal is to make earning rewards effortless for users while delivering valuable consumer insights to retailers.

Simplify's Take

What believers are saying

• 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.

What critics are saying

• 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.

What makes Drop Technologies unique

• 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.

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Funding

Total Funding

$70.9M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:

New Enterprise AssociatesKleiner PerkinsFirst Round Capital

Notable Investors:

New Enterprise AssociatesKleiner PerkinsFirst Round Capital

$44,000,000

Series B

Mar 2019

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

Ind Avg. $35M

$4M

$30M

$44M

$45M

$65M

$100M

View all funding stages