Jackpot Rewards, a Newton, Mass.-based online shopping rewards company, has raised $16.7 million in Series A funding. Backers include Jack Connors, founder of Hill Holiday; Peter Lynch of Fidelity Investments, Cluck Clough, former chief investment strategist for Merrill Lynch; and Tom McDonnel, CEO of DST Systems.
Jackpot Rewards, the new online rewards program, launched today at www.JackpotRewards.com as the Web's best place to win big, save big, and give big. Jackpot Rewards provides consumers with the most cash back on online purchases, as well as exclusive deals and discounts. Members are automatically entered into three drawings every week for Jackpots of over $100 Million, plus a $1 Million drawing every Sunday in which a winner is guaranteed. Jackpot Rewards also gives big by donating 50 percent of its profits to children's charities.
“We're combining three things consumers are passionate about