Cash-back App Dosh Gets $4.9 Million More in Funding

Ryan Wuerch, founder, president and CEO of DOSH.

Austin-based Dosh, a cash-back app, just raised $4.9 million in venture funding, according to a filing with the Securities and Exchange Commission.

The company has raised $18.4 million to date in seed-stage funding and is preparing to raise more money early next year for a Series A round, according to a spokeswoman.

Goodwater Capital led the most recent funding round with participation from Extol Capital and Austin-based Next Coast Ventures.

Dosh, which is slang for cash, is a smartphone mobile app that lets consumers receive cash back on purchases. The company has partnered with more than 100,000 businesses and brands including Sam’s Club, Forever 21, Denny’s and Cost Plus World Market.

“Dosh continues to show record growth month over month in installs, card link users, and cash back transactions,” according to a spokeswoman. The company analyzes data and provides information to merchants to track consumer acquisition, loyalty, and social sharing.

The participation from Next Coast Ventures might have something to do with its news Entrepreneur in Residence at the firm: Adam Salamon, who previously served as co-founder and chief operating officer of Perk Inc., a rewards and engagement platform that went public on the Toronto Stock Exchange and then RhythmOne acquired it earlier this year.

Ryan Wuerch founded Dosh in 2016 and serves as the company’s president and CEO. He previously founded Solavei, a social commerce platform that was acquired in 2015, according to his online profile in Crunchbase. Before that, he founded Motricity, a mobile data service provider.

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