Denver Startup Plink Raises $3M Series A From Grotech Ventures

Denver loyalty and rewards startup Plink has been on a roll lately. Back in June we brought you this story about how they partnered with TangoCard to bring their rewards beyond Facebook credits and that strategy has seemed to pay off.

Today they’ve announced that they’ve closed a $3 million dollar series A round entirely from mid-atlantic (VA & MD) based Grotech Ventures.

Plink began as a company that would take offline businesses and incentivize their customer base with something simple, and easy that millions would benefit from, Facebook credits. While only offering Facebook credits they rapidly ramped up their brick and mortar customer base, until the recent transition to rewards from TangoCard partners. The company has reported that they will use the new funding to continue accelerating development of their offline program. Of course they will also ramp up member acquisition and their marketing efforts.

“Connecting online-to-offline is a challenge for marketers,” said Plink Co-founder and CEO Peter Vogel. “Plink bridges that gap and Grotech Ventures’ investment brings nearly 20 years of successful experience, an enormous amount of industry know-how, insight, and strategic guidance to propel Plink to the next level.”

“For consumers, Plink is a no-brainer,” said Joe Zell, general partner of Grotech Ventures. “Why wouldn’t someone join and get rewards for going out to their favorite places? There’s no extra card to carry or steps a consumer has to take. In addition, Plink has already proven that huge national restaurant brands love the model and they’re already seeing significant increases in consumer purchases.”

Some of the largest fast food establishments are already on board with Plink including Arby’s, Dunkin Donuts and Burger King.

Large chains have embraced Plink because it doesn’t require any changes to their existing point-of-sale infrastructure, does not require staff training, Plink does all the marketing and the restaurants only pay a percentage of the sales that Plink drives. Initial results have shown that Plink members are spending 65 percent more per month at partner restaurants than they were prior to joining Plink. It’s a risk-free, 100 percent turn-key model for national chains and Plink will soon be adding large retail and travel partners.

Plink has raised $4 million to date.

Linkage:

Check out Plink here

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Denver Startup: Plink Teams Up With Tango Card

Plink,Tangocard,Colorado startup,denver startup,startup,Seattle startup,rewards,loyalty,Facebook rewards,nibletz,pandodailySeattle startup TangoCard continues to make news. Just last week we reported that Google’s Executive Chairman Eric Schmidt, had participated in a $1.8M round of funding for TangoCard through his Innovation Endeavors investment arm.

Today loyalty and rewards startup Plink has announced a partnership with TangoCard that will take their 35,000 merchant rewards network from Facebook credits, to a plethora of great opportunities for redemption. Now in addition to earning Facebook credits that can be used for hundreds of Facebook apps and games, customers in the Plink reward network can also earn credit towards top merchants like Amazon,Home Depot, Target,iTunes,The Gap, Nike and many more.

“Our members have asked for more choices and we’re excited to expand the innovative ways they can earn rewards for eating and shopping offline,” Peter Vogel, Plink’s co-founder and President said in a statement. “Plink’s goal is to bridge the gap between online consumers and their offline purchases and partnering with Tango Card makes that vision more rewarding for our current members and attractive to new ones. We still believe in Facebook and Facebook credits; we wanted to increase our reach and exposure.”


Tango will also handle all of the work involved in the gift card part of the program.

“Plink and Tango Card are rethinking how consumers want to earn and use rewards,” David Leeds, CEO and founder of Tango Card said in a prepared statement. “Tango Card carefully curates digital rewards to deliver a complete program in a card. This approach allows Plink to focus on their core business: creating an innovative online-to-offline loyalty program. We are huge fans of what Plink is doing and are delighted that Plink selected our easy SDK [software development kit] to integrate the Tango Card.”

“We were looking for new ways to advertise all over the Internet and through Facebook, not just to people that are playing games on Facebook,” Vogel added. “We had seen Tango out in the marketplace. They have a lot of the biggest and most popular brands that our members want. Tango Card provides our members with a one-stop stop shop with an easy entry point. Tango also has a mobile application that enables our members to pick the [electronic] card they want on the go. It’s a very appealing model. For us, it’s all about choice.”

Just last week Tango received a $1.8 million dollar series A round. They said at that time they would use the fund for expansion, hiring more developers and expanding their proprietary software applications. Obviously they are moving quickly toward that goal.

Linkage

For more information on Plink visit this link

For more information on TangoCard visit this link

Source: Press Release via Loyalty360

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