LoyalBlocks, which develops loyalty marketing solutions for small businesses, has closed a $9 million series A round of financing led by General Catalyst Partners with participation from Founder Collective and existing investor Gemini Israel Ventures. The proceeds will be used for further development of the company’s loyalty marketing platform and for expanding US operations.
General Catalyst managing director Adam Valkin will join the company’s board of directors along with Yossi Sela, managing partner at Gemini, and Allon Bloch, CEO at mySupermarket.
LoyalBlocks is a loyalty marketing solution for small and medium businesses, which enables automatic interaction with their customers via mobile phones. LoyalBlocks builds loyalty between merchants and their customers by sending offers and promotions to customers' mobile devices as soon as they walk through the door.
LoyalBlocks co-founder and CEO Ido Gaver said, “Business owners are currently lacking a mobile-based marketing solution that enhances customer loyalty and generates real value. LoyalBlocks is a simple and efficient way for business owners to give their customers a better in-store experience by providing tailored incentives and instant rewards every time they visit.”
He added, “We have taken mobile loyalty to the next level by making it easy for merchants to give their clients more, automatically. From a business perspective, it is an incremental layer of marketing that leverages their day-to-day activities. It is a simple, innovative and effortless way of generating more business and establishing long term customer loyalty."
Headquartered in New York, LoyalBlocks development operations are in Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on May 24, 2013
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