Loyalty Bay, a London, UK-based provider of a reward platform, raised $1m in a seed funding round.
The round was led by Talis Capital with participation from Howzat Partners, NEON Adventures, Chris Mairs and Richard Verney
. In conjunction with the funding, Matus Maar, co-founder and Director of Talis Capital, joined the board as Investor Director.
The company intends to use the funds to power its service, which helps businesses increase any conversion metric on their web properties using data and rewards.
Led by CEO William Roberts, Loyalty Bay enables businesses to reward and incentivise any action (i.e. sale, signup, retention, referral, cross sell, up sell etc.) taken on the business’s site through a white-labelled API, its Super Users product (it identifies super users from an email address) and Rewards Hub. Data analytics is used to offer the right reward or incentive to the right person at the right time to drive actions.
The company already works with enterprise customers and SMEs in the Telecommunications, Finance, Travel and Automotive industries.