Seattle startup Tango Card is looking to continue to bring innovation to the gift card and rewards space. They are focused on enterprise customers and incorporate digital goods into gift cards and loyalty programs. Tango Card already powers solutions for Bing Rewarsd, FedEx, Extole and Shutterfly.
Those are just some of the factors by two big announcements the company had last week. First of which was that Google Executive Chairman Eric Schmidt’s Innovation Endeavors has participated in a $1.8 million dollar Series A round, alongside Western Technology Investment. Tango Card plans to use those funds to hire more software developers and expand their proprietary software applications.
Tango Card also announced that Westpac GM Technology and Boeing Joint Strike Fighter IT director Randy Fennel is joining the company in an expanded CTO role.
“As a company we’re focused on launching innovative and proprietary software applications in huge and unexplored verticals, execution, and strong brand and partner curation. With Innovation Endeavors and WTI as our first institutional investors we have access to incredible industry thought leaders, mentors and innovators from the Innovation Community. Both investors also bring very deep pockets and long-term focus to Tango Card,” said David Leeds, CEO and Founder of Tango Card. “Additionally, our ability to attract someone with the pedigree, capabilities, and respect that Randy Fennel brings to the company underscores the exciting things we have already done and the mission we are on. Ultimately, this additional capital and the hire of Randy positions us to scale rapidly – a good thing since we have grown 30X already year-over-year,” Leeds concludes.
“We were attracted to Tango Card’s vision of bringing gift cards and digital goods to huge and unexplored areas, and doing this primarily through efficient and scalable software and proprietary applications,” said Dror Berman, Founding Managing Partner at Innovation Endeavors. “We believe we can add significant value as partners and advisors and look forward to working with this exceptionally talented team.” Maurice Werdegar, CEO of WTI stated, “We love David’s track record of success and clear results-based leadership. I’ve known him since his FiberTower days, just before he and his co-founders took that company public, and we see similar opportunities here.”