PORTLAND, Maine — Digital gifting and payment company CashStar announced Wednesday it closed a $15 million round of financing it plans to use to add employees to its sales and client relations teams.
The latest fundraising through equity and stock warrants that began Feb. 26, according to a regulatory filing, brings the company’s total capital raised to $50 million.
After the latest fundraising round, a spokeswoman for the company said CashStar plans to hire 30 to 50 new employees, primarily engineers and project managers, in the next 18 months.
The hiring would continue growth for the company, which late last year expanded its footprint moving to new offices in Portland that CEO Ben Kaplan said could support about 175 employees. The company had about 115 employees at the time.
CashStar said the investment round included money from FTV Capital, new investor Mosaik Partners and additional commitments from past investors, including Passport Capital, North Hill Ventures and others.
The company provides digital gift card and payment services for major retailers, including Starbucks, Best Buy, Dunkin’ Donuts, Petco and Lululemon Athletica.
The company has been named to Inc. magazine’s list of the fastest-growing companies in the country two years in a row, based on its revenue growth.