Loyalty Program Provider Receives Major Investment
In 2012, the number of U.S. loyalty program memberships was 2.65 billion.
With this in mind, it is no surprise that loyalty program solutions are attracting attention from investors looking to capitalize on consumers demand for these programs.
CrowdTwist, a provider of omnichannel loyalty and analytics solutions, has announced their round of Series B funding brought in $9 million, bringing the total amount raised to $20 million. While the second round of investments was led by StarVest Partners, perhaps the most interesting statement released by the company was that all their existing investors contributed in the second round of funding.
With the new funding, CrowdTwist states they plan to grow their business as they have received an influx of new client’s chief among them being the Ultimate Fighting Championship, USA Track & Field as well as L’Oreal USA.
“Today, a company’s relationship with its customers extends far beyond the point of sale into the web, email, mobile, social and in store,” said Irving Fain, co-founder and CEO of CrowdTwist. “By giving brands a comprehensive view of how their customers interact with them across all these channels, we’ve enabled our clients to understand and strengthen their relationships with their customers in a way that has never before been possible.”