PaeDae raises $11.6 million from over 20 investors
PaeDae, a rewards and advertising startup, has raised $11.6 million in a new round of funding. This round of funding is a mix of debt and equity. Over 20 investors were involved in this round including Ed Ojdana, 3G Capital, Grind Games, and Silicon Valley Bank.
“One of the reasons that we decided to go with this approach is that our sales are very strong, our revenue is very strong, we’ve fielded multiple acquisition offers,” stated Rob Emrich, CEO and co-founder of PaeDae. “We wanted to preserve our opportunities and whatever options were available to us. Debt allowed us to do that in a way that equity couldn’t.”
PaeDae runs campaigns from advertisers like Hershey’s, State Farm, Time Warner Cable, and 7-Eleven.