Savings.com banks $4M for coupon aggregation

Venture Beat — Mon, 01 Dec 2008 23:54:56 -0800

Savings.com, the Los Angeles-based coupon search engine, announced that it brought in $4 million in a second round of funding led by US Venture Partners. The new money will allow the company to cast a wider net and add to its continuously-updated database of discounts.

The site is just one in a sea of similar services, including Shoppersource, Couponwinner, Coolsavings — and the list goes on and on. So far, it’s unclear whether Savings.com has any specific plans to break away from the pack. Currently, it finds coupons through other web aggregators, as well as direct store and user submissions. Integrating several social-networking features, it also lets users vote up their favorite deals to make them easier to find for others. The site’s most popular bargains come from the likes of 1-800-Flowers, Hewelett-Packard and Newegg.

One possible distinguishing factor: Savings.com says its proprietary technology lets it automatically distribute discount vouchers from the site through other search engines and content partners. This could be a promising area for further development.

The other investors in the round were not disclosed.