In 2014, consumers spent a whopping $6 billion on electronic gift cards, while total gift card sales were roughly $124 billion. CashStar hopes to capitalize on the "e-gifting" growth potential. CashStar, an early entrant to the digital gift cards and incentive space, has now raised $15 million of Series D capital led by FTV Capital. Total capital raised is now $50 million since its 2007 launch, and the company plans to use the fresh funds to continue to build out its tech team
The pioneer in the digital gift-card industry needs to hire up to 50 more people to handle new work and expand client services. CashStar and CEO Ben Kaplan have raised $15 million to continue to grow the digital gift card business. Gordon Chibroski/Staff Photographer CashStar, the Portland-based pioneer in the digital gift-card industry, has raised $15 million that will allow it to hire more people and continue to grow its business. The company, which moved into new larger offices on Pearl Street last year, provides digital gift cards and incentive programs to a wide array of high-profile national retail businesses, including Starbucks, Banana Republic and Williams-Sonoma. CashStar President and CEO Ben Kaplan, at his Portland office: “I’m more confident and excited about the business than at any point in the last two years,” he said. Jill Brady/Staff Photographer CASHSTAR INC.