St. Louis startup RoverTown has raised $875,000 in their most recent round of funding, preparing them to accelerate their growth.
RoverTown’s Student Discount Program is available to college students across the country via their iOS and Android app. By using the app, students get special offers from merchants serving the college communities the students are in. (Techli has covered RoverTown extensively- see HERE)
Investor’s in RoverTown’s $875,000 round were Dave Peacock (who also joined the Board), Tom Hillman of FTL Capital, David Karandish and Chris Sims of Answers and the Missouri Technology Corporation.
“This will be a defining year for us,” said Mike Philip, CEO of RoverTown. “Local retailers are beginning to adopt mobile customer acquisition technology and we are in a position to become a market leader. Adding Dave to our Board along with this infusion of growth capital will allow us to achieve this goal.”
Dave Peacock commented upon the announcement of the round: “The RoverTown team has done a fantastic job building a relevant tool which helps students save money while enabling businesses to more effectively reach the college market,” said Peacock. “The team is driven and they possess tremendous passion for what they are doing. My goal is to surround them with the experienced leadership and marketplace relationships they’ll need to achieve their overall vision.”
In addition to being an investor, Peacock also owns Jamba Juice franchise stores, which are customers of RoverTown’s Student Discount Program.
Besides being valuable to college students to get discounts, RoverTown has some secret sauce built into its offering for participating businesses: RoverLink, a customer acquisition platform, to optimize the effectiveness of their marketing campaigns.
RoverTown relocated to the T-REX startup space in downtown St. Louis after receiving an Arch Grant in 2013. Additionally, RoverTown was awarded the $100,000 Arch Grants follow-on grant as well as graduated from the Capital Innovators Fall 2013 class and ITEN Mock Angels program. RoverTown currently has nine full-time employees at its headquarters in St. Louis