FreePriceAlerts, a web browser add-on designed to save shoppers money online, has announced today that it has closed a series B funding round of $2.5 million.
The latest round was led by Nick Grewal, who is now part of the company’s board, and also included 10X Venture Partners. In total the company has now raised more than $4 million in investments so far.
The firm says it will use the new funding to increase the number of engineering staff it employs, and also expand its marketing schemes in order to try and attract new users.
Once installed FreePriceAlerts automatically notifies users of potential savings while they’re scouring the web. If you’re hovering over the ‘buy’ button on Amazon, the service will instantly tell you if there’s a better price elsewhere.
At present, FreePriceAlerts says it is creating more than a million notifications each month, equal to more than $250,000 in savings each day. That’s an awful lot of money to keep from some of the behemoth online retailers.
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