Loyalty Prime, the leading SaaS (Software-as-a-Service) loyalty platform provider, secured its 1.5-million-euro series A funding from the financial consortium consisting of Senovo, Unternehmertum Venture Capital (UVC) and angel investor Alexander Bruehl, to rapidly grow their business across Europe, North America and Asia.
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In relation to the above deal, Christoph Straub, Managing Director at Loyalty Prime said:
"We at Loyalty Prime are thrilled to have found the perfect set of investors in Senovo, UVC and Alexander Bruehl, who bring the right balance of SaaS experience and growth financing, which will help us to accelerate our growth story."
"Loyalty Prime has proven that its excellent and innovative product is the right answer to today's needs of a modern loyalty program," said Johannes von Borries, Managing Director at UVC.
Frederick von Mallinckrodt, Managing Director at Senovo, adds: "We are impressed by the experience of the founders Christoph and Kunal and by Loyalty Prime's ability to attract top international clients."
Loyalty Prime kicked off as a self-funded start-up in 2014. Spearheaded by its two founders - Christoph Straub (based in Munich) and Kunal Mohiuddin (based in New Delhi) - Loyalty Prime has achieved remarkable success in winning large projects in such a short time including winning the award for the Best B2B Loyalty Program at the prestigious Loyalty Awards in 2015.
It is the first of its kind cloud-based loyalty solution, which delivers enterprise class functionality to small, medium and enterprise clients, such as Fraport AG, TRW ZF, Preferred Hotels & Resorts to name a few.
Casey Ueberroth, Chief Marketing Officer at Preferred Hotels & Resorts underlines the above when he says: "Loyalty Prime's platform excels due to its fast set up time & quick integration into existing IT systems. Moreover, it's incredibly easy to use."
Jan Boluminski, Managing Director at Envolved and co-founder of Payback, who supports Loyalty Prime as advisory board member, says: "Loyalty Prime's SaaS platform is first in class. With the funding, LP will be able to accelerate market penetration and is well prepared to become the 'Salesforce' of the loyalty industry."
Senovo is a Munich based early stage fund with a focus on B2B SaaS Investments. The Senovo team believes that SaaS should be the dominant model for delivering software and is thrilled about the great market opportunities which are continuously created by the tectonic shift towards SaaS. Senovo funds outstanding entrepreneurs and teams building world class products and generally gets involved soon after product launch.
About Unternehmertum Venture Capital Partners (UVC)
Unternehmertum Venture Capital Partners (UVC) is an early-stage fund investing in new businesses with innovative technologies and international market potential. UVC focuses on Industrial Technologies & Smart Enterprises with a preference for B2B business models. Even though UVC is fully independent it can leverage the overall UnternehmerTUM ecosystem to support its portfolio companies. UnternehmerTUM is the largest German innovation and entrepreneurship centre and is partnering with many leading corporates, universities as well as research institutes. http://www.unternehmertum.de/venture-capital.html
About Alexander Bruehl
Alexander Bruehl is a renowned SaaS expert, passionate mentor and committed angel investor. He is a serial entrepreneur himself, has been a Senior Partner in a large, transatlantic Venture Capital firm and since 2009 helps ambitious entrepreneurs to manage go-to-market and growth challenges of SaaS companies from positioning, sales modelling, internationalization to proper funding. He is an active Seed investor in many leading European SaaS companies such as FreeAgent, Geckoboard, Contentful and Riskmethods.
About Loyalty Prime
Since 2014 our team of loyalty experts is driving the growth of our award winning loyalty cloud platform serving clients worldwide to run the leading loyalty programs in their industries. Our international team includes 60 employees and is located in three offices: Munich (head office), London and New Delhi (delivery centre). Together with our channel partners we are serving our clients around the globe.
UnternehmerTUM Press contact
Head of Communication & Development
Tel +49-89-18-94-69-1311 | Fax +49-89-18-94-69-1199
Loyalty Prime Press contact
Head of Communications
SOURCE Loyalty Prime