Checkmate lands $5m seed funding for smart shopping tool

Checkmate has secured a $5 million seed funding round led by Fuel Capital.

The startup, which is working with brands like Brooklinen, UnSpun and Bala Bangles, will use the cash to accelerate its product development and customer growth.

Other participants in the round included Kevin Johnson, former CEO of Ebates at Rakuten; f7 Ventures; Blackbird Ventures; Scribble Ventures; Hyper; and Susa Ventures.

Checkmate offers a technology platform that finds the best deals from users’ email inboxes and across the web and automatically applies them at checkout.

Users can also track all their packages and store and manage their gift cards through Checkmate’s dashboard.

“With record high inflation, economic uncertainty and a volatile stock market, consumers are looking to save wherever they can,” says Harry Dixon, CEO and Co-founder, Checkmate.

“At the same time, skyrocketing digital ad costs mean retailers and brands need new ways to establish and build their own customer relationships. We’re extremely proud to partner with this prestigious group of investors as we roll out a delightful product that helps smart shoppers save, while helping brands drive conversion and loyalty.”

“In the face of continually rising customer acquisition costs, most DTC companies have invested in personalised marketing to deepen their relationships with existing customers and discover new ones,” says Chris Howard, Founding Partner at Fuel Capital.

“Checkmate is a tool purpose built to respond to current market dynamics and provide significant value to brands. We’re highly confident in the Checkmate team and are excited to support the company as it continues to provide significant value to brands and marketing teams.”

Funding roundsStaff WriterCheckmate, Funding rounds, Startups, Retail technology, Smart shopping toolsComment