The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
The company, which serves several Top 500 retailers, plans to expand its staff.
Badgeville, a provider of customer loyalty and social gaming programs, has landed a $12 million investment, the company says. Badgeville says it will use some of the funding to hire 20 employees.
“This investment comes at the heels of two consecutive seven-figure sales quarters, and 40% quarter-over-quarter growth,” says CEO Kris Duggan. “We plan to use the new funding to continue to build out our team and to rapidly scale to meet broad market demand for social loyalty, behavior analytics, and smart gamification.”
Badgeville’s 75 clients include BlueFly.com, No. 173 in the Internet Retailer Top 500 Guide and Moxsie Inc., No. 637 in the Second 500 Guide. Badgeville says that with its customer loyalty and social gaming products, retailer clients typically experience a 30% jump in traffic and conversion. With Badgeville’s technology, retailers can reward shoppers with special discounts or early access to private sales for watching videos, writing reviews, reading blog posts and similar tasks.
The funding round was led by Norwest Venture Partners and El Dorado Ventures, with participation from existing investors Trinity Ventures and Webb Investment Network.