Omnichannel customer loyalty and reward program leader 500friends has announced an investment from several leading retail and customer loyalty executives.
Already having investors such as Intel Capital and Silicon Valley Bank, 500friends was not actively seeking investors but found the collective experience and knowledge of the new investors (which include, Matt Howland, former CEO of Loyalty Lab, and Neel Grover, CEO of Buy.com) to be too significant to pass on.
“Interest from this esteemed group of retail and loyalty leaders is a testament to their confidence in our team and our solution,” said 500friends CEO Justin Yoshimura.
Yoshimura is hopeful that with the new investors’ connections, 500friends will be able to expand its current customer base, which includes 1800Flowers.com and Omaha Steaks. 500friends competitors include Loyalty Lab, Smart Button and BigDoor.