Quotient buys VC-backed Shopmium

A digital discount distributor listed on NYSE, Quotient looks set to benefit from Shopmium's specialisation in smartphone promotions and will back the company's expansion across the US and other markets.

Under its new parent, growth is expected for the Parisian app developer in the US. According to the company's estimates, 97 million North Americans will use mobile promotions in the coming year.

Previous funding
Shopmium's first institutional funding dates back to December 2011, when Accel Partners and Isai provided a combined €1.6m for the business to bolster its commercial development and target new sectors.

In June 2013, Accel and Isai were joined by new investors XAnge and Ventech during a $5.6m series-B for Shopmium. The mobile app developer, valued at a reported €15m at the time, stated funds would be used to double its workforce and expand internationally.

Company
Founded in September 2011, Shopmium has developed a mobile app allowing brands to send offers and deals to smartphone users. The company's 250-strong client base includes Danone, L'Oréal Paris, Kellogg's and Barilla. Headquartered in Paris since inception, the business entered the US market in 2013 as a new office was set up in New York. It currently employs 30 professionals.

People
Eli Curetti, Quentin de Chivré and Philippe Cantet co-founded Shopmium, while Steven Boal founded and currently heads Quotient as CEO.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• Exits
• Technology
• France
• ISAI
• Accel Ventures
• XAnge Private Equity