Loyalty Prime in disruptive mood as it wraps funding round
German startup Loyalty Prime, developer of an SaaS-based loyalty platform, has closed a €5 million Series B round.
This was led by Hi inov and also included existing investors BayBG Bayerische Beteiligungsgesellschaft, Senovo, UVC Partners and The SaaSgarage (Alexander Bruehl).
Loyalty Prime’s Series A in 2018 was used to accelerate the company’s international expansion plans. The Series B will help to advance the automation of loyalty programme management via a cloud-native platform based on artificial intelligence.
Christoph Straub, Loyalty Prime’s Founder and CEO, comments: “This is an entirely new level of service we will be able to provide to our customers, helping to unleash the immense power of loyalty programmes, creating maximum results, reducing the need for human intervention to a minimum. This will be clearly disruptive and unique to the multi-billion Euro/US loyalty industry.”
“Our VC fund is specialised in supporting innovative tech startups that provide exciting digital transformation solutions to companies around the globe,” says Wolfgang Krause, Managing Partner at High inov.
“We chose to invest in Loyalty Prime as it provides an effective solution to deliver on the widely preached but seldomly fulfilled promise in data-driven marketing and personalisation: being able to provide the right offer to the right person at the right time, in the right channel and with the right message for impactful business results.”