The company intends to use the new funding to accelerate development for the loyalty platform including expansion into new cities, new partnerships, and new product development.
In conjunction with the deal, Jeff Jordan, general partner at Andreessen Horowitz, former chairman and CEO of OpenTable and former president of PayPal, will join the Board (read here his post about the investment).
Launched in August 2011 and led by Logan LaHive, Founder & CEO, Belly partners with merchants to design and implement lasting rewards programs that reflect the personality and culture of each business and appeals to its customers.
Customers can use a physical card, iPhone App or Android App to scan in on the provided in-store iPad to earn points at every store where Belly is accepted.
These points can then be redeemed for creative and customized rewards at each individual location.
Belly, which currently partners with 1,400 merchants, is available in Chicago, Austin, Milwaukee, Madison, Washington D.C., Phoenix, and starting today in New York, and Boston.