Marketing firm NinthDecimal purchased Kiip, a US-based peer backed by payment services firm American Express, advertising agency Interpublic and telecommunications networks US Cellular and Verizon, in 2019, it revealed yesterday.
Founded in 2010, Kiip has developed data-infused software that enables customers including Coca-Cola, Johnson & Johnson, Kellogg’s, McDonald’s and Procter & Gamble to advertise products and services through incentives created for mobile users such as free samples or virtual currency.
The company completed a $12m series C round in 2016 featuring Verizon’s corporate venturing subsidiary, Verizon Ventures, as well as US Cellular, North Atlantic Capital, which led the round, Relay Ventures, Hummer Winblad Venture Partners (HWVP) and True Ventures.
HWVP and True Ventures had already participated in a $4.4m round for Kiip that closed in 2011 and which included Crosslink Capital and multiple individuals, and the two returned for an $11m series B round in 2012 led by Relay Ventures and also backed by Interpublic.
American Express took part in a 2013 round of undisclosed size for the company through its American Express Ventures unit, before Verizon Ventures and private backer Michael Lazerow injected another undisclosed amount the year after.
