About Drop
Drop is a company based in Toronto (Canada) founded in 2012 by Darren Fung and Cameron Dearsley. It operates as a Freemium and Commission-Based. Drop has raised $120.78 million across 6 funding rounds from investors including SVB, NEA and Sierra Ventures. Drop has completed 1 acquisition, including Canopy Labs. Drop offers products and services including Drop App. Drop operates in a competitive market with competitors including Bilt Rewards, Fetch, Yoyo Wallet, Nectar and FlyBuys, among others.
- Headquarter Toronto, Canada
- Founders Darren Fung, Cameron Dearsley
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Drop Technologies Inc.
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$120.78 M (USD)
in 6 rounds
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Latest Funding Round
$44 M (USD), Series B
Sep 03, 2019
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Investors
SVB
& 10 more
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Employee Count
Not available
- Investments & Acquisitions
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Products & Services of Drop
Drop offers a comprehensive portfolio of products and services, including Drop App.
Rewards are earned through shopping with linked cards.
People of Drop
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Funding Insights of Drop
Drop has successfully raised a total of $120.78M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $44 million completed in September 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Drop
Drop has secured backing from 11 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include SVB, NEA and Sierra Ventures.
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Venture capital investments are offered to startups by NEA.
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Early-stage venture capital investments in AI, healthcare, and enterprise technologies.
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A global technology investment platform operating in multiple cities with a focus on venture and digital asset funds.
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Investor details for Drop
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Investments & Acquisitions by Drop
Drop has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Canopy Labs.
Investment portfolio details for Drop
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- Portfolio identities
- Transaction dates
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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Predictive customer analytics are delivered for mid-market sales teams.
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Complete acquisition details for Drop
Transaction dates, acquired stakes, disclosed values, domains, and locations require an active premium plan.
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Financial Statements - Drop
Detailed financials for Drop
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
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Drop Comparisons
Peer comparison for Drop
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Competitors of Drop
Drop operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Bilt Rewards, Fetch, Yoyo Wallet, Nectar and FlyBuys, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Reward-based rental management is facilitated via SaaS for residential properties.
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Fetch is operated as a rewards app for earning gift cards.
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Rewards-based coalition loyalty platform
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Coalition rewards-based loyalty program in the United Kingdom
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Manages a card-based coalition loyalty program in Australia.
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Detailed competitors of Drop
Competitor domains, locations, full profiles, and operating metrics require an active premium plan.
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Verified entity values are shown only after access is granted.
Latest news on Drop
Complete news archive for Drop
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- Brand-specific news history
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Frequently Asked Questions about Drop
Drop was founded in 2012 and raised its 1st funding round 4 years after it was founded.
Drop is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Drop is a funded company, having raised a total of $120.78M across 6 funding rounds to date.
Drop is managed as a mobile application platform where users are rewarded with points for shopping at partnered brands. Points can be redeemed for gift cards and other rewards. The service is provided free of charge, with earnings facilitated through linked debit or credit cards. Data privacy is emphasized with bank-level security and anonymized sharing with retail partners. The platform is utilized by over 5 million members across various everyday purchase categories.
Drop's top competitors include Bilt Rewards, Fetch and Yoyo Wallet.
Drop offers Drop App.
Drop has made 1 acquisition, including Canopy Labs.
Drop has 11 investors. Key investors include SVB, NEA, Sierra Ventures, White Star Capital, and RBC Ventures.