P97 Networks, a Houston, Texas-based mobile commerce and digital marketing platform provider to the convenience retail, auto industry, and fuel market, closed $40 million in Series C funding.
The equity financing round was led by Portage and included participation from existing investors.
The funds will fuel strategic growth initiatives at P97 that will further establish the company as the leader in payment and loyalty solutions for mobility-focused retailers.
"In this highly connected world, retail brands are looking for new ways to increase consumer engagement—the power of network effects in the digital world will be a key contributor to revenue growth and margins," says Donald Frieden, CEO of P97 Networks. "With consumers of all ages further adopting mobile payment solutions, we are proud to have built the leading connected commerce and digital marketing platform for the convenience retail, energy marketing, and transportation industry."
The P97 mobile commerce platform is a cloud-based technology solution that enables retail brands in the convenience mobility and fuel industries to securely connect with their customers through mobile devices.
The company's proprietary APIs are used by a majority of the retail fuel market in North America, with the potential to expand further into the fleet, connected car, and EV charging markets.
Company: P97 Networks, LLC.
Round: Series C
Funding Month: March 2023
Lead Investors: Portage
Company Website: https://p97.com/
Software Category: Mobile Commerce and Digital Marketing Platform
About the Company: Founded in 2012, P97 Networks is a mobile commerce and digital marketing company that enables retail brands in the convenience mobility and fuel industries to securely connect with their customers through mobile devices. It provides a cloud-based mobility services platform for mobile commerce, digital marketing, and consumer engagement. The company serves retail, utilities, energy companies, and automobile OEMs. Its innovative technology enables businesses to support payments from a variety of platforms, increase consumer engagement, and gain real-time data and insights about their users.