Mobile commerce platform Button has today (June 25) announced that it has raised $30 million in Series C funding with Icon Ventures leading the round. Capital One Ventures and returning investors Redpoint Ventures, Norwest Venture Partners, and DCM Ventures also participated in the round.
As part of the investment, Icon Ventures’ general partner Jeb Miller will be joining Button’s board of directors as the company continues to support businesses in driving revenue growth through commerce in mobile apps and websites.
This funding round follows a breakout year for Button where the platform drove over $1 billion in mobile commerce in 2018. The funding is also another milestone following the company’s Series B funding of $20 million led by Norwest Venture Partners in 2017.
Accelerate product development
According to Button, they will use the funding to accelerate product development by helping companies weave shopping into their mobile apps and grow their international footprint.
“The internet of the future will be defined by actions, not ads. Button is the first platform built to monetise actions and commerce in mobile, and with the world heading in this direction, it’s a good place to be,” said Michael Jaconi, co-founder and CEO of Button.
“In this digital world dependent on technology giants, we’ve all lived through an era of questionable methods of monetisation, ambiguous treatment of user data, and models dependent on one party losing. The future we believe in and the future we are building is one where all parties win. If you’re a publisher wanting to build a commerce strategy or a brand looking for a third channel, Button is a platform that exists to deliver on this promise,” he continued.
Founded in 2014, Button now employs more than 100 people across New York, San Francisco, and London, and its technology is used across the globe. Button was also recently named one of Fortune’s Best Companies to Work For and Inc.’s Best Workplaces.
“With their technology, the world’s best brands on their platform, and year-over-year growth that continues to exceed expectations, we are excited to help Button scale internationally through the network and relationships that we’ve developed,” said Jeb Miller of Icon Ventures
“Button's technology is enabling brands to bolster their revenue strategy in the fast-growing mobile economy; we couldn't be more excited to support the team as they continue to build a better way to connect with customers and do business in mobile,” commented Aman Sharma, Partner at Capital One Ventures.