SANTA MONICA, Calif., May 5, 2016 /PRNewswire/ -- Earny, the personal assistant bot that automatically gets consumers money back for retailers' discounts on past purchases, today announces their launch along with a $1.2 million seed investment from Sweet Capital Ltd. and Science Inc., the disruptive media, marketing and brand building company; with additional participation from Jeff Bonforte, SVP, Communications Products at Yahoo, and Wealthfront CEO Adam Nash.
Most consumers aren't aware of price protection policies offered by major stores and credit card issuers. Many stores offer policies that promise to pay back the difference when a price drop occurs on past purchases, but customers must do their own research and go through the hassle of requesting refunds.
With Earny, all that work is no longer necessary, as the app automatically tracks purchases through emailed receipts, finds better prices, monitors price adjustments and files refund claims back to the original payment method. Earny automatically unlocks those savings from credit card issuers as well as more than 50 of the largest retailers in the United States. MasterCard's trusted Simplify Commerce technology handles all Earny transactions securely and safely.
"Earny's ultimate vision is to protect users' wallets by making sure they don't overpay on any purchase made. We want to eliminate the headache of tracking down money people are owed on discounts on flights, hotels, products and more. We expect to get consumers approximately 10% of their yearly purchases back. Now with the support of the seasoned team at Science, we are excited to launch nationwide and help millions of people put money back in their wallet," said Oded Vakrat, CEO of Earny.
"As an early Earny beta tester, I saw firsthand how exciting it was to get cash back on dozens of purchases I didn't even know had gone on sale. Science spent a lot of time getting to know the Earny team, and was very impressed by their sophisticated bot technology – once installed users can just sit back and watch the app collect money they'd otherwise leave on the table. We anticipate that more and more people will rely on bots to handle complex queries and tasks on their phones. Science's partnership with Earny will help expand the team's reach, and we are excited to have them move from San Francisco to our LA office where they can work side-by-side with our operators, engineers and marketers," said Michael Jones, CEO of Science Inc.
Les Matthews, Senior Vice President, Business Development & Account Management, MasterCard, added, "As we expand our digital portfolio, MasterCard looks to the startup community for the latest groundbreaking products that will help build the commerce and payment space. We were thrilled that Earny won first place at our MasterCard Masters of Code Hackathon, and have since entered into a commercial arrangement with them where we work together to develop and build new innovations to help consumers take control and feel secure in their finances."
As part of the investment from Science, Earny will relocate from San Francisco to Santa Monica to be a part of Science's headquarters. Science companies leverage an internal platform that combines proprietary technology, process and audience in order to engage customers. Having co-founded, invested in and acquired dozens of companies in the past four years, Science has backed breakout companies like men's grooming brand Dollar Shave Club, pet services marketplace DogVacay, influencer marketing firm HelloSociety, and teen polling app Wishbone, among many others.
Earny is available free on iTunes.
About Science Inc.
Science Inc. builds, buys and invests in disruptive media and ecommerce companies. Science uses its centralized technology and marketing platform, along with its operational leadership to create category-leading digital companies. Science systematically scales Internet brands and media companies into market leaders through a proven process. Since 2012, Science has backed dozens of startups, and internally built more than ten companies across commerce, marketplaces, media, and mobile sectors. For more information, visit www.Science-Inc.com.
Earny is the personal assistant bot that automatically gives users money back on purchases from the top 50 retailers. Earny takes advantage of the price protection benefit that is offered by the major credit card issuers and retail stores and files claims on users' behalf. Earny's credit card security is handled securely by MasterCard's trusted Simplify Commerce. For more information, visit earny.co.
Moxie Communications Group, Taryn Langer, firstname.lastname@example.org
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SOURCE Science Inc.