The Global Savings Group, the German pubtech commerce content solutions firm, has raised $13m in its latest funding round
The digital voucher firm also said it was in exclusive negotiations to acquire iGraal from M6 Group.
Last year, GSG hit several key milestones, received numerous industry awards and expanded into the US market.
Global Savings Group
The latest funding round came from existing investors Rocket Internet, Holtzbrinck Ventures, DTCP and RTP Global. The funds will be used to further expand the German pubtech’s presence in the US and UK markets; and to fund future acquisitions.
Recently, GSG also announced that it had entered exclusive negotiations for French cashback player iGraal, valued at $137M.
In January of 2019, GSG acquired Pouch, a UK-based money-saving browser extension. Pouch’s internet browser extension searches over 3,000 e-commerce sites in the UK for active voucher codes on Chrome, Safari and Firefox browsers.
Following the acquisition, Pouch’s solution was incorporated into the PubTech company’s white-labeled offering. The following month, GSG opened its first office in the US market.
The new office, in Atlanta, Georgia, joined GSG’s growing list within major global cities. Others include Amsterdam, Kuala Lumpur, London, Madrid and Warsaw.
The US operations are being led by the company’s CRO, Johannes Wirth, out of the Atlanta office, which hired 30 employees in 2019.
US media market
“The media market in the US is a very exciting and ever-changing one, and we knew we needed to establish a foothold within the country to be able to service and better understand the challenges of our key clients, which include Business Insider and CNN,” said Wirth.
“We have seen incredible growth in the first 10 months of operation. We’ve seen the market go through some key changes and iterations.”
GSG’s success within the market didn’t go unnoticed either as it went on to be recognised with the Industry Disruptor Award by affiliate marketing network Awin US Group for their growth within the US market.
GSG was chosen as the winner for the way it has “challenged the status-quo within the affiliate marketing industry, whether it be a technology, strategy or process,” according to the Awin Group.
Additionally, Wirth was named as one of the top 50 industry players in performance marketing by PerformanceIN.
Connecting with content
“Since partnering with GSG 18 months ago, our work together has given us another way to help connect people with great commerce content,” said Breton Fischetti, VP of Commerce at Insider, Inc.
“Service journalism has become one of the fastest-growing businesses for us, and working with a partner like GSG makes it a much easier lift on our end, ensuring that we can continue to deliver the engaging and useful content our readers expect from us.”
GSG said it hit key growth metrics in 2019, including facilitating an estimated 27.5m transactions for its partners. This, it said, generated an estimated $2.07bn in gross merchandise value (GMV).
Additionally, the company was able to generate up to 20% of its publishing partners’ digital revenues.