What Series A Means for Bumped—and You
I’m thrilled to announce that Bumped has closed our $14.1M Series A round—including $11.7M in new funding led by Canaan along with existing investors including Peninsula Ventures, Commerce Ventures, and Oregon Venture Partners.
I founded Bumped on my belief that everyone deserves to be an owner. That everyone can participate in—and hopefully benefit from—the stock market and ownership. Bumped helps make that happen by giving customers fractional shares of stock for spending with the brands they love.
Specifically, Bumped is an app that tracks spending with participating publicly traded companies, then gives customers a percentage of their purchases back in fractional shares of stock.
You choose where to spend your money every day, and brands you care about are better for your support. Through ownership, Bumped wants to turn those transactions into a lasting relationship.
I’d like to personally thank everyone who has supported Bumped and believed in our mission—this investment round means we’ll be able to build the best possible Bumped for our customers and partner brands, well beyond the beta.
Growing our Team
For our team, this funding is a show of support for Bumped’s mission to build authentic, lasting relationships between customers and the brands they love. It’s affirmation that if we bring the Bumped vision to life, customers can understand their power to impact the brands they care about, and brands can prioritize values—not just prices—as a way to connect with their customer.
This funding will help us deliver on our promise—building a great experience that allows you to own what you love with less.
For starters, Bumped is hiring. We’re building out our engineering and brand sales teams—to build a great customer experience, and to bring even more brands you love into the app. We'll be posting open positions starting today! If you are (or someone you know is) excited about our mission and a fit for an open position, get in touch. The growing is just getting started, so keep an eye on our jobs page.
Beyond financial resources, closing our A round means building out our leadership team. We’re excited to say that Dan Ciporin of Canaan will be the first addition to Bumped’s Board of Directors. Dan has disrupted the financial industry from both the startup and traditional sides of the equation—he took Shopping.com from zero to over $100 million in revenue (and then sold it to Ebay); helped grow Lending Club into a multibillion dollar public company; and ran MasterCard’s global debit program. He speaks our language, understands our space, and can bring invaluable insight as we scale. Welcome aboard, Dan.
Right now, the Bumped app is in the hands—and on the phones—of the Bumped team and “friends and family” testers. This external group is the last step before we start bringing people from the waitlist onto the beta. Once we’re satisfied that the app is ready to scale, we’ll start inviting folks on the waitlist to sign up for Bumped.
As we build, iterate, and scale, we’ll be looking for your feedback on what works well and what we can improve for the next version. Keep an eye out for those invite emails; we can’t wait to hear what you think.