What is Snipp?
Snipp operates a cloud-based platform designed to empower brands in planning, executing, and managing customer acquisition, engagement, and retention initiatives across various channels. Its modular suite encompasses a wide array of marketing activities, including promotions, digital coupons, receipt processing, rebates, rewards, and loyalty programs. By integrating data capture and analytics, Snipp provides valuable consumer insights to optimize campaign outcomes. The platform enables businesses to implement personalized, omnichannel incentive programs, featuring robust tools for validation, fraud management, and seamless integration into existing client systems, thereby enhancing customer relationships and marketing effectiveness.
How much funding has Snipp raised?
Snipp has raised a total of $32.9M across 8 funding rounds:
Share Placement
$1.1M
Debt
$12.3M
Share Placement
$5M
Debt
$4M
Share Placement
$3.3M
Share Placement
$1.9M
Debt
$2M
Debt
$3.3M
Share Placement (2014): $1.2M with participation from Undisclosed
Debt (2015): $12.3M led by Clarus Securities and Canaccord Genuity Corp.
Share Placement (2016): $5M supported by Undisclosed
Debt (2016): $4M featuring Silicon Valley Bank
Share Placement (2017): $3.3M backed by Undisclosed
Share Placement (2018): $1.9M with participation from Undisclosed
Debt (2018): $2M led by Bridge Bank
Debt (2026): $3.3M supported by Shen Capital
Key Investors in Snipp
Shen Capital
Shen Capital Partners Inc. is a Toronto-based investment firm that focuses on concentrated long-term investments in software companies. They have a selected portfolio that includes various companies listed on the TSX and CSE. Their intended clients are likely investors looking for specialized investment opportunities in the software sector.
Silicon Valley Bank
SVB Financial Group offers commercial and private banking, asset management, private wealth management, brokerage & investment services, funds management, and business valuation services. The company was founded in 1983 and is headquartered in Santa Clara, California.
Bridge Bank
Bridge Bank is a financial institution that provides a range of banking and financial services. While specific details about their investment focus are not provided, their involvement suggests a strategic financial backing for the company's growth initiatives.
What's next for Snipp?
With the recent major strategic investment and substantial overall capital raised, Snipp is well-positioned for its next phase of growth. The company is likely to focus on expanding its technological capabilities, particularly in advanced data analytics and AI-driven personalization for loyalty programs. Strategic partnerships and market penetration in key global regions are also probable objectives. This infusion of capital will enable Snipp to enhance its competitive edge in the dynamic promotions and loyalty technology landscape, further solidifying its role as a key enabler of customer engagement for major brands.
See full Snipp company page
