Tango Card Announces $10 Million Strategic Growth Investment From WTI
SEATTLE, June 28, 2017 /PRNewswire/ -- Tango Card, innovative provider of digital rewards and incentives to enterprise customers, announced today a $10M investment facility from Silicon Valley based Western Technology Investment (WTI). The company plans to use the funds to increase investment in its core Reward Delivery Platform or RDP(TM), in new products to meet the needs of its global customer base, and to accelerate expansion outside of the United States.
"When we launched Tango Card in late 2010, we believed that the enterprise reward and incentive industry would undergo massive and fundamental change. We've seen tremendous growth at Tango Card as those changes have occurred and are now accelerating," said David Leeds, CEO & Founder. "We have brought a unique combination of technology, digital reward content, and service to the industry that has truly met the needs of our 2000+ customers and our content partners and we continue to define what customers can expect of this industry for years to come. We know there is much more to do in the United States and that similar opportunity exists in almost every other part of the World. WTI has been a trusted and unwavering financing partner since 2012, and we're excited to expand our relationship with them," Leeds said.
"Tango Card's enterprise platform and digital rewards capabilities are rapidly changing the game in the $150 Billion global rewards and incentives industry," said Maurice Werdegar, CEO and President of WTI. "We are happy to partner again with David and his talented team and help achieve Tango Card's vision of being the #1 provider of rewards and incentives to the global enterprise."
Given the attractive industry dynamics and Tango Card's scale, growth, and capital efficiency, the company had several financing choices. WTI's commitment level and engagement model proved to be an ideal fit for Tango Card.
About Tango Card
Tango Card's mission is to make rewards easy to send and awesome to receive. Tango Card bundles powerful and easy to use technology, a global catalog of digital reward content that has real impact, and expert service all to help companies achieve results from their reward and incentive programs. The company works with 2,000 enterprise companies today to deliver results in wellness and engagement programs for employees, customer acquisition and engagement programs, research participation programs, payment disbursement, and other key use cases. Tango Card has offices in Seattle, Washington and Boise, Idaho.
About WTI
Western Technology Investment (WTI) is a Silicon Valley based venture debt firm which invests globally in a wide range of technology and life science companies ranging from seed-stage start-ups to publicly-held companies. For over 36 years, WTI has provided in excess of $3 billion of growth capital to exceptional teams building market leading companies.
Media Contacts
Tango Card - Scotty Greenburg, 1 877 55 TANGO, 165619@email4pr.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tango-card-announces-10-million-strategic-growth-investment-from-wti-300480839.html
SOURCE Tango Card
