Prizeout Company Profile

Background

Overview

Founded in 2019 and headquartered in New York City, Prizeout is an innovative ad-tech company that transforms cash withdrawals into growth solutions for e-commerce and retail businesses. By integrating with various industries—including gaming, banking, crypto, gig economy, payroll, and finance—Prizeout offers users access to bonus offers on popular and emerging brands, delivering a fast, secure, and curated experience.

Mission and Vision

Prizeout's mission is to disrupt the traditional "funds out" process by providing consumers with added value during cash withdrawals, thereby enhancing purchasing power and fostering stronger connections between businesses and their customers.

Key Strategic Focus

Core Objectives

Enhancing Consumer Value: Providing users with bonus offers on digital gift cards, increasing their purchasing power.

Driving Merchant Growth: Offering businesses a platform to acquire and retain customers through targeted promotions.

Expanding Industry Integration: Collaborating with partners across multiple sectors to embed Prizeout's solutions seamlessly.

Areas of Specialization

Digital Gift Cards: Facilitating the conversion of cash withdrawals into digital gift cards with added value.

Ad-Tech Solutions: Utilizing advanced advertising technology to match consumers with relevant brand offers.

Key Technologies Utilized

Real-Time Bidding: Enabling merchants to bid for consumer attention, ensuring personalized and timely offers.

Data Analytics: Leveraging consumer data to optimize offer relevance and effectiveness.

Primary Markets Targeted

Banking and Financial Services: Integrating with banks and credit unions to offer customers enhanced withdrawal options.

Gaming Industry: Partnering with gaming platforms to provide players with value-added withdrawal choices.

Crypto and Digital Wallets: Collaborating with cryptocurrency platforms to convert digital assets into spendable value.

Financials and Funding

Funding History

Series A Funding (May 2020): Raised $5 million to support initial growth and development.

Series B Funding (December 2021): Secured $25 million, with participation from investors including Mark Cuban, Precept Capital, Continental Investment Partners, Astralis Capital, RiverPark Ventures, and Anchor Capital.

Utilization of Capital

The funds have been allocated to:

Product Innovation: Enhancing the platform's features and capabilities.

Market Expansion: Entering new industry verticals and geographic regions.

Talent Acquisition: Building a robust team to support growth initiatives.

Technological Platform and Innovation

Proprietary Technologies

Ad-Tech Platform: A system that connects partner firms with consumers looking to "cash out," offering bonus offers through gift cards and other rewards.

Significant Scientific Methods

Real-Time Bidding Algorithms: Merchants engage in real-time auctions to bid for their targeted demographic, ensuring personalized and timely offers.

Leadership Team

David Metz: Founder and CEO.

Competitor Profile

Market Insights and Dynamics

The digital gift card and rewards industry is experiencing significant growth, driven by increasing consumer demand for flexible and value-added payment options. The integration of ad-tech solutions into financial services is enhancing customer engagement and loyalty.

Competitor Analysis

While Prizeout operates uniquely at the intersection of ad-tech and financial services, it faces competition from various platforms offering digital gift cards and rewards. However, Prizeout's focus on transforming cash withdrawals into growth solutions for businesses sets it apart in the market.

Strategic Collaborations and Partnerships

Pockit: Partnered to offer Pockit's 700,000+ users in the UK access to Prizeout's marketplace, enhancing their purchasing power.

Streaks Gaming PLC: Collaborated to provide Streaks users with enhanced reward experiences through digital gift cards.

KashKick: Teamed up to help KashKick members maximize their earnings by converting rewards into digital gift cards with added value.

Square: Integrated with Square's App Marketplace, allowing Square sellers to utilize Prizeout's platform for customer acquisition and retention.

Jack Henry™ Vendor Integration Program: Joined the program to integrate with Symitar®, enabling credit unions to offer Prizeout directly from their digital banking apps.

Flatiron Gaming: Partnered to launch a real money gaming acquisition channel, providing gaming brands with a new advertising avenue.

Flycoin: Collaborated to allow Flycoin users to convert cryptocurrency rewards into digital gift cards through Prizeout.

Operational Insights

Strategic Considerations

Prizeout's unique model of enhancing cash withdrawals with added value positions it distinctively in the market. By integrating with various industries and leveraging advanced ad-tech solutions, Prizeout offers a compelling proposition for both consumers and businesses.

Competitive Advantages

Innovative Withdrawal Solutions: Transforming traditional cash withdrawals into opportunities for added value.

Diverse Industry Integration: Collaborations across multiple sectors enhance market reach and relevance.

Advanced Ad-Tech Capabilities: Utilizing real-time bidding and data analytics to optimize consumer engagement.

Strategic Opportunities and Future Directions

Strategic Roadmap

Expansion into New Markets: Exploring opportunities in additional geographic regions and industry verticals.

Product Development: Continuing to innovate and enhance platform features to meet evolving consumer and business needs.

Strengthening Partnerships: Building deeper collaborations with existing partners and establishing new alliances to drive growth.

Future Business Directions

Prizeout aims to solidify its position as a leader in transforming financial transactions into value-added experiences, leveraging technology and strategic partnerships to drive innovation and growth.