Silicon Valley Thanx, a loyalty specialist, has nailed $17.1M Series B financing. The financing led by Icon Ventures and Series A investor Sequoia Capital, with participation from Javelin Venture Partners.
Unique in the retail IT market, Thanx eliminates the technical burden of hardware or on-site integrations which have previously made it difficult for brick-and-mortar merchants to access and act on customer purchase data.
Through direct data partnerships with Visa, Mastercard and American Express, Thanx delivers world-class retention marketing and engagement campaigns with demonstrable return on investment as high as 4000%. Thanx now also ingests item-level purchase data from almost any point-of-sale. Currently in pilot, the enhancement will be rolled out to enterprise customers throughout 2017.
Of the three billion loyalty memberships in the United States, only 40% were active in the last year. By comparison, 98% of Thanx members remain active. The markedly-better retention rate can be attributed to a seamless consumer experience, as simple as paying with any credit card.
Mixt, a health-focused fast-casual restaurant chain, has doubled its location count since launching as an early Thanx customer.
Thanx helps merchants drive increased revenue from top customers through automated loyalty, feedback, and marketing tools and eliminates the integration hassles of traditional programs.
For a complete archive of more than 70,000 articles published since 1995 search the CardFlash.com library