Koupon raises $2 million in venture debt from Espresso Capital
Addison, Texas, July 27, 2020 — Espresso Capital announced today that it has provided Texas-based Koupon with a $2 million venture debt facility. Koupon’s industry-leading digital promotion and data insights solutions help convenience store retailers and consumer packaged good (CPG) brands connect with shoppers to drive sales. The company will use the funds to invest in its product as well as sales and marketing.
“We were seeking an experienced venture lender that would complement our existing bank line of credit to provide us increased cash availability without dilution,” says Koupon CEO Brad VanOtterloo. “We see a massive market opportunity in helping CPG brands better understand their customers that shop in convenience stores. The Espresso debt facility will enable us to invest in our continued growth at a time when other companies are pulling back. Espresso committed to Koupon pre-COVID, and they followed through with their financing despite the market turn.”
“We’re excited to support Koupon with growth capital behind their existing bank revolver,” says Espresso Capital Director, Mark Gilbert. “Brad and his team continue to demonstrate that their business is highly resilient as they execute on a growth plan through a challenging macro environment. We’re looking forward to working with the Koupon team and their lead investor, Mercury Fund.”
“The Espresso team has been highly supportive since their initial meeting with Koupon,” says Blair Garrou, Managing Director with Mercury Fund. “They delivered a creative funding solution in the midst of a difficult environment that gives Koupon the strategic flexibility to fully capitalize on the growth opportunities ahead of the company.”
Koupon’s platform helps retailers reach shoppers, create data-informed strategies, and drive digital impact. Meanwhile for brands, it serves as a gateway for connecting with retailers, launching promotions, understanding shoppers, and driving revenue.
About Espresso Capital
Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 270 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at www.espressocapital.com.
About Koupon
Koupon provides C-store retailers and brands with the easiest way to connect and engage with shoppers to grow sales. Koupon works with brands to easily deploy personalized, channel-wide promotions, and helps retailers to secure additional brand trade spending and grow shopper engagement. Members of the Koupon Network – the leading C-store collaborative with 30 of the top 50 C-store retailers and over 70 brands – realize the benefit from Koupon’s unmatched channel reach, proprietary technology and data, and campaign management services. Since its founding in 2011, Koupon has delivered over 4 billion offers. To learn more, please visit www.kouponmedia.com.
About Mercury Fund
Mercury Fund is an early-stage venture capital firm. With over $300 million under management, Mercury focuses on software entrepreneurs and startups originating in the U.S. Midcontinent. Its investment themes target SaaS, Cloud, and Data Science/AI platforms that make the industrial ecosystems of Middle America more competitive and efficient. Over a decade ago, Mercury recognized the rise of entrepreneurs and innovation in the underinvested Midcontinent. Its venture investment strategy leverages its unparalleled network of midcontinent startup development organizations, corporate innovation partners, and co-investors to assist entrepreneurs with the resources they need to rapidly scale their businesses. Mercury believes now, more than ever, the Midcontinent represents a great venture capital opportunity.
For more information, please contact:
Kevin Cain
kcain@espressocapital.com