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May 26, 2023

Checkmate: Data Exchanged for Discount

A startup called Checkmate goes viral on the App Store, receives funding worth $15 million

Checkmate, an Australian startup specializing in shopping experiences, raised $15 million in Series A funding, following a $5 million seed round just last September. Checkmate topped the Apple Store’s charts and accumulated over 400,000 users. The new investment came from a range of backers, such as Google Ventures (GV), Mantis VC, and angel investors like Paris Hilton.

The startup offers a free iPhone app that streamlines consumers’ online shopping by consolidating all purchases and tracking packages. Recognizing that marketing emails often get lost in the "promotions" folder, Checkmate eliminates the need for constant code hunting. It aims to reduce the frequency of promotional text messages that consumers tend to ignore. By installing the app, users gain access to available discounts across 40,000 online stores.

The app integrates with the Safari mobile browser via an extension, aligning with the growing trend of mobile shopping. Offering live order updates, package tracking, and real-time notifications of new sales, Checkmate ensures a seamless shopping experience. GV partner Frederique Dame says, “Viral growth over the past eight months demonstrates early product-marker fit”.

Founded in late 2021 by Harry Dixon, Rory Garton-Smith, and Elliot Rampono, the team envisions creating a personalized end-to-end shopping experience, where users’ data across the internet is harvested, and relevant recommendations can be made based on shopping habits and interests. Checkmate operates on an affiliate model, earning a percentage of purchases made after driving traffic to specific retailers. This revenue stream ranges from one to seven percent.

Checkmate is s a disruptive force in the e-commerce industry. With its user-friendly app, extensive retailer network, and commitment to providing personalized shopping experiences, Checkmate alters the way we shop online. By simplifying the code hunt, at the cost of our supposedly private virtual footprint, the startup aims to increase savings. Win-win? You decide.

Kriti Swarup
Kriti Swarup
Content Writer at TechNews180
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