Last week, Chicago's edo Interactive announced that they raised $20M Series E Round mostly from existing investors including VantagePoint Capital Partners, Chicago-based Baird Capital, and several Nashville-based investment firms (edo also has a home base in Nashville).
Along with this news they also announced a new CEO, Souheil Badran.
“I am honored to join edo Interactive and its Board. With a history of innovation, edo has earned industry recognition as a global trusted expert in card-linked offers,” said Badran. “With the recent funding, I am looking forward to working with the team and the Board to help accelerate the pace at which edo is creating value for our partners, customers, employees, and investors.”
Badran was previously the Senior Vice President and General Manager of World Payments & SMB Commerce at Digital River and is taking over for founder Ed Braswell, who will remain on board as Executive Vice Chairman. At Digital River, Badran was in charge of everything related to product and business development, operations, sales, and marketing. He also has past experience in international e-commerce and financial services.
edo Interactive offers digital and mobile advertising solutions by leveraging everyday payment networks to connect brands with consumers. They provide businesses with an easy way to personalize offers and make them automatically available through credit or debit cards. Their Prewards® marketing platform utilizes advanced analytics and loyalty solutions to create value for consumers, brand advertisers and financial institutions.
The most recent funding will be used to accelerate further development of their technology and product road map, expand sales, marketing and business development activities as well as to enhance support for its strategic partnership activities, including Visa Europe.