pieFi, a Salt Lake City, UT-based provider of a platform that gives companies the tools they need to improve connection with their customers, raised $4.6M in funding.
The round was led by Kickstart Seed Fund, with participation from Origin Ventures.
The company intends to use the funds to accelerate growth, expand operations and its business reach.
Led by CEO Tyler Morrey, pieFi provides Upside.coop, a platform that allows companies to build a customer loyalty and retention program by rewarding customers with ownership in the business through their purchases, referrals, and any other value-creating activities that the brand chooses.
In addition to the launch of the Upside.coop platform, pieFi also announces the release of a white paper detailing a way for web3 companies to achieve greater regulatory compliance by using cooperatives. The white paper, which pieFi has co-authored alongside KPMG and Orrick, outlines ways that cooperatives can be used to share ownership with communities in a compliant manner.