Mobile Commerce Company Button Raises $30 Million

By Annie Baker ● June 30, 2019
  • Button, a mobile commerce platform company that helps drive revenue, announced it raised $30 million in Series C funding recently
  • This round of funding was led by Icon Ventures

Button, a platform that enables companies to drive revenue through mobile commerce, announced recently that it raised $30 million in Series C funding. This round of funding was led by Icon Ventures.

Capital One Ventures and returning investors Redpoint Ventures, Norwest Venture Partners, and DCM Ventures also joined this round. In conjunction with this round, Icon Ventures general partner Jeb Miller is joining Button’s board of directors.

“The internet of the future will be defined by actions, not ads. Button is the first platform built to monetize actions and commerce in mobile, and with the world heading in this direction, it’s a good place to be,” said Button co-founder and CEO Michael Jaconi in a statement. “In this digital world dependent on technology giants, we’ve all lived through an era of questionable methods of monetization, 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 the platform that exists to deliver on this promise.”

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Button offers a patented higher-converting technology that brands can use for growing their mobile businesses and increasing mobile revenues for publishers. Plus consumers will enjoy better buying experiences by getting what they want at a tap of a button.

The funding round is another major milestone for the company followed by a breakout year in 2018 when the company drove over $1 billion in mobile commerce.

“The rapid growth of mobile commerce makes it a critical space for Samsung to deliver more convenience and value for consumers. This is why we are pleased to build scalable mobile experiences with partners such as Button and the leading brands on Button’s platform,” added Samsung’s VP & Head of Strategic Partnerships of the Samsung Content & Services division Sang Ahn.

Button’s partners include 9 out of the top 10 largest retailers on the Forbes Global 2000 and all 10 of the top U.S. e-commerce retailers ranked by sales share on eMarketer along with publishers like Samsung and United Airlines.

“United Airlines leads the travel industry in mobile innovation. We are constantly seeking opportunities to take friction out of our customers’ travel journeys, deliver contextually relevant experiences, and increase engagement with our MileagePlus members by offering more ways to earn and use miles than any other U.S. airline,” explained United Airlines’ VP of Loyalty Luc Bondar. “That is why we integrated Button’s platform with United’s MileagePlus X app, adding more of the world’s leading brands to our program and supercharging the miles our members can earn while shopping on the go.”

With this round of funding, Button plans to accelerate its investment in product development to build a more dynamic mobile infrastructure, grow strategic partnerships, expand its team and international footprint, and scale its platform to continue making it easier for customers to purchase on mobile.

“Button’s vision of building an internet driven by commerce is a vision that we believe in and one that the world seems to be turning to,” noted Jeb Miller of Icon Ventures. “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.”

Button was founded in 2014 and employs over 100 people across New York, San Francisco, and London. And including this round, Button has raised more than $64 million in venture capital.

“Button has become a leading platform for enhancing monetization and engagement strategy in mobile commerce,” commented Capital One Ventures partner Aman Sharma. “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.”