WePresent, the London-based startup that has constructed an “incentive advertising” platform that lets companies simply situation e-gift playing cards and different digital rewards to prospects, has raised $eight million in new funding.
Dubbed a Series A extension, the spherical is led by AlbionVC. Existing buyers together with Stride.vc, SAP.iO fund and Unilever Ventures additionally adopted on. Following the fundraise, Ed Lascelles, normal associate at AlbionVC, is becoming a member of the WePresent board.
WePresent says it’ll use the extra capital to proceed constructing out its “real-time infrastructure” for digital rewards and incentives. This will embody funding in constructing its provide chain via direct integrations with manufacturers, and product improvement “that serves company advertising groups seeking to purchase, activate and retain prospects at scale”.
Founded in 2016 by Aron Alexander, WePresent needs to digitise the $700 billion rewards and incentives business, which is basically nonetheless powered by legacy techniques constructed for bodily reward playing cards.
“Currently funds are a a method avenue,” WePresent’s Alexander advised TechCrunch in June. “Payments expertise is constructed to allow companies to take cash from customers nevertheless it doesn’t let companies ship cash to customers.
“We’ve created a brand new class of digital non-cash rewards to energy buyer acquisition, retention and loyalty globally: the ‘Twilio for e-gift playing cards’”.
To do that, WePresent gives a “cloud-based, open API” platform that enables companies to automate sending digital incentives. This is mixed with analytics, making it simpler to trace ROI on incentive advertising campaigns.
WePresent, the digital rewards platform, raises £4M Series A
Since we final coated the startup, WePresent has grown its community to greater than 700 model companions (equivalent to Nike and Uber), throughout 30 markets and 20 currencies. It claims “tons of of purchasers,” equivalent to Vodafone, Samsung, Vouchercodes, Perkbox and Sodexo, amongst others.
“We’ve turn out to be a favorite of the telecom and vitality business with corporations like Vodafone, Utilita, LookAfterMyBills and E.ON utilizing our platform,” Alexander tells me.
WePresent is disclosing 317% in annual income progress, however isn’t offering precise income numbers. Notably, the corporate has additionally opened a New York workplace.