Buzz Points pockets $19M from investors

Apr 2, 2014
Austin Business Journal

Social media tool maker Buzz Points Inc. announced that it has closed a $19 million Series D round of funding to market its product in different regions of the U.S.


The Austin-based company that launched as Fisoc collected the capital from investors that included Illinois-based Discover Financial Services (NYSE: DFS), New Jersey-based KEC Ventures and Greycroft Ventures, according to a Tuesday news release


Buzz Points, founded in 2009, develops social media tools and loyalty reward programs for financial institutions. The company employs 70 workers. The financing increases to $26.5 million the amount of investment capital it has raised since launching, according to the Wall Street Journal


In September 2013, Buzz Points reported receiving $11.4 million of a planned $21 million financing from 24 investors, according to a filing with the U.S. Securities and Exchange Commission


In late 2012, it announced the completion of a $5 million Series C round of funding. The company planned to use the capital to service customers and generate contracts in the Upper Midwest, South and Northeast, company executives said at the time


Investors included Greycroft Partners, KEC Holdings LLC, New York-based Metamorphic Ventures, Austin-based Daylight Partners and local angel investors


In June 2012, Buzz Points reported receiving $4.3 million from 28 investors, including the conversion of convertible notes totaling $992,000, according to a SEC filing


Print Article opens in new window