AppCard, a NYC-based marketing and loyalty platform for small and medium sized retailers, raised $20m in Series B funding.
The round was led by Alexander Rittweger, founder of Loyalty Partner, and PLDT Capital, the investment arm of Philippine Long Distance Telephone Company (PLDT, NYSE:PHI, PSE:TEL), with participation from existing investors Founders Fund (Peter Thiel), Innovation Endeavors (Eric Schmidt), and Jerry Yang.
The company intends to use the funds to further develop the technology.
Led by Yair Goldfinger, co-founder and chief executive, AppCard has developed a marketing and loyalty platform that combines item-level smart data capture with artificial intelligence to allows retailers to market directly to their customers in a personalized way.
The technology currently is used by thousands of businesses, across all segments. .