Ibotta is one of Denver's most prominent and fastest growing startups. Founded in 2011 and located in the heart of Denver, the technology company builds tools to empower consumers and simplify their daily lives. This is done through their mobile app, which is an easier, more effective way to coupon.
Ibotta partners up with leading grocery stores, clothing brands, and even restaurants to offer users actual cash rewards. When you buy an item featured on the Ibotta app, simply take a photo of your receipt for proof of purchase to redeem actual cash--not points or credit. What's even better is the app allows you to purchase then receive the cash later, rather than having to dig up promo codes or presenting a physical coupon before purchasing to get the discount.
Ibotta was founded by Bryan Leach. Leach doesn't exactly have the "typical" startup-founder background. Rather, he is a graduate of Harvard, Oxford, and Yale Law, and before founding Ibotta was partner at a prestigious law firm and clerked for a Supreme Court Justice.
However, Leach said in an Ibotta press release that he saw the need for something like Ibotta: a more innovative approach to connecting brands, retailers, and consumers through mobile technology.
He had the idea for Ibotta while working as partner and knew he had to risk it all and start the company, he said to his friend and mentor, Larry Sonsini: "Larry, I love my law partners, I love my practice...but I have this idea, and I think I'm going to go crazy if I don't do it."
Since taking that leap of faith, Ibotta has become one of the fastest growing tech startups in Denver. This early growth forced the company into a larger office space downtown, where it has grown to over 200 employees. The app currently has over 14 million downloads, and was one of only seven companies since 2012 that have broken onto the top 100 most downloaded apps list. The other six apps? Snapchat, Wish, Offerup, DraftKings, Dubsmash, and Seriously.
Ibotta is more than their app, though. The company aims to be a technology company with a mission to empower consumers and simplify their day-to-day lives. Ibotta is fueled by a passion for disruptive innovation and discovering new ways to reimagine advertising and promotions in an increasingly mobile world.
Ibotta has a lot of growth to come, and is partnering with nation-leading brands and companies to broaden their offers. With over $73 million in capital raised so far, Ibotta is definitely a company to watch.