US-based digital gift card service CashStar raised $15m yesterday in a series D round featuring Intel Capital, the corporate venturing arm of semiconductor technology producer Intel.
The round was led by growth equity firm FTV Capital and also included Mosaik Partners, Passport Capital, North Hill Ventures and a range of existing, unnamed backers.
CashStar’s service enables consumers to buy personalised digital gift certificates, and has partnered with more than 300 retailers. Businesses can also use the service to manage gift voucher-based promotions. The funding will support product innovation and sales.
The company has raised $50m since it was launched in 2009 by consumer printed coupons provider Coupons.com. Intel Capital previously took part in a $5m funding round in 2012 that also included Passport, FTV and CashStar co-founder Steven Boal.
CashStar’s shareholders also include media-focused investment bank Allen, which invested in a $5m round in a Passport Capital-led round in 2011.