SavingStar, a national fully digital grocery savings service, has raised $9 million in Series C financing led by DCM. Joining DCM in the round are previous investors Flybridge Capital Partners, First Round Capital, IA Ventures, board member and Buddy Media CEO Michael Lazerow, and Sir Keith Mills, founder of Loyalty Management Group. Tom Blaisdell, general partner at DCM, will join SavingStar’s board.
SavingStar enables shoppers to save money on their groceries — without the need to clip or print paper coupons — by linking special offers found on SavingStar.com, or the company’s iPhone and Android apps, to their grocery and drug store loyalty cards. Since its launch in April 2011, 1.5 million people have joined SavingStar and more than 150 brands have run offers on the service, says the company. SavingStar is backed by DCM, Flybridge Capital Partners, First Round Capital, IA Ventures, and other investors. The company is based in Waltham, MA.