I Love Rewards Raises $1.6 Million Extended Series B

Posted Jun 19, 2009

I Love Rewards is an online employee rewards and recognition website that offers sales incentives.  Some of their clients include Marriott, Bell, ConAgra, and Microsoft.  The company has announced $1.6 million in extended Series B funding from Ontario Venture Capital Fund.

The $1.8 million is an addition to the earlier Series B round in May by GrandBanks Capital, JLA Ventures, and Laurence Capital.  The total Series B round of funding was $7.7 million including the extended round.  Between the Series A and Series B rounds, I Love Reward has raised $13.6 million.

I Love Rewards has grown about 187% in gross billings and a 253% growht in their customer base.

[via TopNews.us]