Tango Card raises $10M to acquire digital rewards pioneer

by Quinten Dol
February 12, 2019
tango card raises $10 million acquires giftcertificates.com
photo via tango card

The last twelve months have been big for Tango Card, a Seattle tech company that helps businesses reward employees with digital rewards cards. The company raised $35 million in May, ranked high on the Inc. 5000 list of the country’s fastest-growing companies in August and featured on Built In’s 50 Tech Companies in Seattle to Know in 2019.

This morning, the e-gift card company announced that it had received some spending money of its own, in the form of a $10 million investment from San Francisco’s FTV Capital.

In a blog post, Chief Commercial Officer Nat Salvione said Tango had used that investment to fund its acquisition of GiftCertificates.com, which was also announced this morning. Founded in 1997, GiftCertificates.com is a pioneer in the digital rewards space.

“With this acquisition, Tango Card will add hundreds of customers and strategic merchant relationships as well as an incredibly experienced and passionate team based in Omaha, Nebraska,” Salvione wrote.

GiftCertificates.com was originally founded in Seattle, but moved its headquarters to Omaha in 2005.

“This acquisition represents an important step in Tango Card’s growth,” CEO David Leeds said in a statement. “We have built a successful company through unwavering focus on enterprise customers and by staying true to our core strengths… As we got to know the team at GiftCertificates.com, we recognized the same commercial and customer focus.”

FTV Capital also led Tango Card’s $35 million funding round last May, which the company used to invest in, and expand, its product line.

“This investment was more than just financial,” Salvione wrote. “FTV has since become a true partner to Tango Card, equally focused in growing our market share in the B2B incentive-and-rewards space.”

Between its new Omaha outpost and West Seattle headquarters, Tango Card now has three offices in total. The third is in Boise, Idaho.

“It has been an amazing 20 years,” GiftCertificates.com VP of Finance and Administration Rob Gregersen said in the statement. “This next chapter with Tango Card is very exciting as we will be able to continue to grow and deliver best-in-class solutions to our customers.”

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