Ibotta Inc. (NYSE: IBTA) announced it has extended its strategic partnership with the Denver Nuggets for multiple years, including continued sponsorship of the team's jersey patch, according to a company statement.

The digital promotions network, which operates across North America, cited its Denver roots as a key factor in the partnership extension. Ibotta was founded in Denver more than a decade ago and recently opened new headquarters on 16th Street in the city.

"From our founding more than a decade ago to the recent opening of our new headquarters on 16th Street, Denver has been part of everything we've built at Ibotta," said founder and CEO Bryan Leach. "Extending our partnership with the Nuggets reflects our deep and lasting ties to the city and our commitment to this community."

The partnership includes community initiatives where Ibotta employees volunteer with the Nuggets to provide groceries for local students through Food for Thought Denver. The companies have also hosted players and coaches at Ibotta's downtown headquarters for events.

Through Ibotta's "A Shot for Change" activation at Nuggets home games, the partnership has directed more than $250,000 to local nonprofits since launching in 2023.

"We look for partners who share our DNA, and as a company founded and fueled by the energy of downtown Denver, Ibotta is the perfect fit," said Lacy Ekert, Chief Commercial Officer for Kroenke Sports and Entertainment.

Ibotta operates what it describes as the largest digital promotions network in North America, reaching over 200 million consumers through its Ibotta Performance Network. The company reports that American shoppers have earned over $2.7 billion through its network since 2012.