SparkPlug raises $8 Mn Series A funding led by LightBank

SparkPlug, an incentive and wage management platform based in the U.S, has raised $8 million in Series A funding. 

The round was led by LightBank and saw participation from TenOneTen Ventures, Industry Ventures and Jason Calacanis, author of Angel: How to Invest in Technology Startups and well-known right-hand man of Elon Musk.The latest round has brought the total investment to $11.5 Million.

The cash injection will be used to accelerate the company’s plans which include key executive hires and developing intellectual capital. The investments into data and expanding the behavioural science expertise will continue as the firm kickstarts growth in the newer market.

The platform was founded in 2018 by Andrew Duffy and Jacob Sky Levin. The platform allows companies to reward frontline workers with fair compensation and economic equality directly.

SparkPlug currently works with more than 1,000 retailers across the United States and over 200 different brand partners.

As per their website, SparkPlug envisions a future where easy-to-use technology would make brick-and-mortar commerce more efficient and equitable, a vision possible by connecting a network of engaged vendors, sellers, and salespeople to share information, resources, and coordinating around shared goals.