Offermatic Gains Market Traction With Over $2.5M in Offers, 10x New Cards Connected Since Launch

SAN FRANCISCO, June 3, 2011 /PRNewswire/ -- Offermatic, delivering personalized savings based on members' purchase history, today announced it has delivered over $2.5M in offers to its members since launch.

Offermatic profoundly changes how people save money, and how merchants acquire and retain customers.  The company has seen rapid growth since its launch, based on metrics including member acquisition, brand and affiliate partners, and debit and credit cards connected. Since launch, Offermatic has added hundreds of brand and affiliate partners, and has grown by 10x the number of debit and credit cards registered with the service.

Offermatic recently introduced its Cashback platform. Similar to the eBates model, the Cashback platform gives Offermatic members cash back for online purchases made at retailers including Apple, Nordstrom, Best Buy, Expedia, Barnes & Noble, and many others.

"We've been thrilled with how quickly people are adopting the Offermatic platform as a way to save money on their day-to-day purchases," said Faisal Qureshi, founder and CEO, Offermatic. "We're continuing to learn a lot from our customers, and the number one thing they've said is they want cash back for online purchases. We've had great response from this program so far, and we're excited to continue to innovate to help our members save money on their purchases."

Offermatic recently closed a $4.5M Series A round Kleiner Perkins Caulfield & Byers, Ron Conway, Omar Hamoui and others. The company recently moved offices to accommodate its plans to double in size by mid-2011, and has platform innovations on the way later this month.

For more information, and to become an Offermatic member, please visit the Offermatic website, www.offermatic.com.

About Offermatic

Offermatic brings to market a new model that changes how consumers save money, and how merchants acquire and retain customers. For members, Offermatic provides a simple and powerful way to save money by paying out automatic rebates directly to a credit or debit card – no coupons, no junkmail, no hassle. For merchants, Offermatic enables permission-based targeting of consumers based on their purchase history – the "spending graph." Offermatic is founded by experienced Silicon Valley Internet entrepreneurs, and is funded by Kleiner Perkins Caulfield & Byers, Bessemer Venture Partners, Ron Conway, Omar Hamoui, and other private investors.

SOURCE Offermatic