San Francisco-Based Kiip Raises $11 Million in Second Round

San Francisco -- Kiip, the San Francisco-based developer of a mobile rewards network that delivers tangible rewards for virtual achievements, said on Tuesday it has raised $11 million in its second round of funding, led by Relay Ventures. Previous backers Hummer Winblad and True Ventures also participated in the round, which the company's will use to expand its network beyond gaming and launch new consumer-facing products. Kiip also said it plans to launch a new app, a mobile rewards wallet that consumers can use to store their rewards while exploring new apps and games that are Kiip-enabled. The app, called Kiipsake, is scheduled for release later this month. Currently, the company is tracking more than 100 million user achievements and progress milestones each month in the U.S. on more than 400 apps. Kiip currently works with more than 40 brands, including American Apparel, Best Buy, Disney, Dr Pepper, PepsiCo, Popchips, Sony Music, 1-800-Flowers.com and Wrigley.
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