LoyalBlocks Raises $9 Million In First Round Of Funding
LoyalBlocks is a loyalty marketing solutions company that has raised $9 million in their first round of funding. The company plans to use the funding to expand their U.S. operations and continue developing their platform for SMBs. Founded in 2011, LoyalBlocks was created by Ido Gaver and Eran Kirshenboim with operations in New York City and Tel Aviv.
General Catalyst Partners led the series A investment round. Founder Collective and previous investor Gemini Israel Ventures also participated in this round. General Catalyst Partners managing director Adam Valkin, Gemini Israel Ventures managing partner Yossi Sela, and mySupermarket chief executive Allon Bloch have joined the board of directors at LoyalBlocks.
LoyalBlocks lets you set up an all-in-one loyalty marketing solution. The service helps get people walking through the door, drive sales, pick up slow hours, and increase social media exposure. You can set up a loyalty app, place LoyalBlocks’ Base-Station at your store, and have customers rewarded automatically when they walk 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,” stated LoyalBlocks co-founder and CEO Gaver.