What is Pingup?
Pingup operates as the nation's largest transaction platform for local services businesses. Leveraging proprietary technology, the company effectively connects hundreds of thousands of local merchants with leading publishers and social platforms, including major entities like Facebook, Kik, Bing, and Yahoo, which collectively boast over 300 million monthly users. With a current aggregation of more than 180,000 US businesses, Pingup significantly surpasses the scale of competitors such as OpenTable within the US market and continues to expand its merchant base by thousands each month. Headquartered in Boston's Innovation District, the company's growth has been supported by strategic financial backing.
How much funding has Pingup raised?
Pingup has raised a total of $5M across 2 funding rounds:
Angel/Seed
$1M
Private Equity
$4M
Angel/Seed (2012): $1M with participation from Avalon Ventures
Private Equity (2012): $4M, investors not publicly disclosed
Key Investors in Pingup
Avalon Ventures
Avalon Ventures is a venture capital firm with over 30 years of experience focusing on seed and early-stage companies, particularly in the life sciences and information technology sectors. The firm is driven by a team of former entrepreneurs who are passionate about supporting disruptive ideas in dynamic market environments.
What's next for Pingup?
The substantial enterprise-level funding Pingup has attracted, culminating in a recent major strategic investment, signals a phase of accelerated scaling and market penetration. This capital infusion is likely to fuel further technological development, expand its network of local merchants, and deepen partnerships with key publishers and social platforms. Pingup's strategic positioning as a dominant transaction aggregator for local services businesses suggests a focus on solidifying its market leadership and potentially exploring new verticals or service offerings to enhance its value proposition.
See full Pingup company page
