VIPGift, LLC, a leading provider of corporate and consumer incentive programs and prepaid card solutions to clients across the United States, announced today that it has received a majority investment from Summit Partners, a private equity and venture capital firm that has raised more than $11 billion since inception, and Bridgescale Partners, a late-stage venture capital and private equity firm.
“Summit Partners targets privately held companies — such as VIPGift — that have bootstrapped their businesses to profitability and established leadership positions in their industry. VIPGift’s brand equity and reputation for great customer service is second to none in the incentive industry. We are pleased to partner with VIPGift and help the company to continue extending this leadership position,” said J.J. Kardwell, a Principal with Summit Partners.
“Bridgescale Partners invests in category leading private companies in rapidly growing markets. VIPGift is the leader in the fastest growing segment of the prepaid market, with a strong track record of product innovation and customer service,” said Rob Chaplinsky, a Managing Director with Bridgescale Partners.
Press release
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