Madison’s Fetch Rewards snags unicorn status after $210M investment round

Unicorn companies are startups that reach the statistically rare mark of being valued at $1 billion, which the consumer rewards app did last month when it closed a $210 million equity investment round.

“It just validates that what we’re doing is very exciting,” Fetch CEO and founder Wes Schroll said. “There’s still so much upside in where we’re going.”

Users of Fetch Rewards, founded in 2013 by UW-Madison students Schroll and Tyler Kennedy, scan shopping receipts and earn points based on the items purchased. Those points are then converted into different redeemable rewards, including gift certificates, contest entries or even charitable donations.

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