LoyalBlocks said on Thursday that it has received $9 million in Series A funding. The lead investor was General Catalyst Partners. Founder Collective and existing investor Gemini Israel Ventures also participated in the round. According to LoyalBlocks, the funding will be used to expand the company’s loyalty marketing platform and for scaling the U.S. 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, a provider of loyalty marketing solutions for small businesses, is headquartered in New York City with its research and development team based in Israel.
PRESS RELEASE
LoyalBlocks, a loyalty marketing solution for small businesses, today announced a $9M Series A investment led by General Catalyst Partners with participation from Founder Collective and existing investor Gemini Israel Ventures. Following the investment, which will be used for further development of the company’s loyalty marketing platform and for scaling the 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 SMBs which enables automatic interaction with their customers via mobile phones. LoyalBlocks builds loyalty between brick and mortar merchants and their customers by sending offers and promotions to customers’ mobile devices as soon as they walk through the door.
“Business owners are currently lacking a mobile-based marketing solution that enhances customer loyalty and generates real value,” said Ido Gaver, the company’s co-founder and CEO. “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.”
With LoyalBlocks, merchants are able to create a branded and customized loyalty app for their business. Their venue is instantly turned into an “automated zone” which triggers their app as soon as a customer walks in.
“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,” continued Gaver.
“The fact that two billion people will soon carry smartphones fundamentally changes the game for businesses trying to attract and retain customers. What we’re seeing right now is just the tip of the iceberg,” said General Catalyst’s Adam Valkin. “LoyalBlocks is the first company to introduce an automated loyalty application. Combined with its rich product suite and impressive momentum in the market, it has the potential to become a market leader in loyalty management solutions.”
With hundreds of merchants joining every month, LoyalBlocks is on a rapid growth trajectory. Businesses looking to create a loyalty club and a customized LoyalBlocks app can do so quickly and easily by visiting www.LoyalBlocks.com.
About LoyalBlocks
LoyalBlocks provides business owners with a customized loyalty platform. With its user-friendly online dashboard, merchants easily set up and manage their automated business app to increase foot traffic, drive sales, pick up slow hours and increase social media exposure. LoyalBlocks is a privately-held company headquartered in New York City with research & development in Israel. For more information, visit www.LoyalBlocks.com or follow @LoyalBlocks.
About General Catalyst
General Catalyst Partners is a venture capital firm that makes early stage and growth equity investments. General Catalyst Partners invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals’ extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has offices in Cambridge, MA and Palo Alto, CA. For more information, visit: www.generalcatalyst.com or https://twitter.com/gcvp.
About Gemini Israel Ventures
Since 1993, Gemini Israel Ventures has helped many of Israel’s most talented entrepreneurs to build innovative and world-changing companies. With over $700M under management, Gemini invests in early stage and growth-stage companies across a range of industries including communications, consumer electronics, enterprise software, Internet software and services, and semiconductors. More about Gemini: http://www.gemini.co.il.
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