In its second-largest acquisition, Amazon buys the company for $970 million.
The company helps online retailers create reward programs for shoppers.
Sweet Tooth Inc., a Canadian firm that sells e-commerce customer loyalty software, said today it has raised $2.25 million in funding.
Most of the capital, $1.5 million, comes from Omers Ventures, Mars Investment Accelerator Fund and Points International. The rest comes from unidentified sources.
Sweet Tooth says its technology enables merchants to create loyalty points programs and offer rewards to customers. Sweet Tooth, which launched about three years ago, says it will use the capital to add employees and expand its offerings.
"As online shopping continues to grow, the Internet has become retail's new battleground for customer loyalty and retention," says Sweet Tooth founder and CEO Jay El-Kaake. "There are thousands of competitors for every e-commerce dollar, so when a customer makes a purchase online it is imperative that the customer is retained and engaged - or their next purchase might be with the competition."
At the Internet Retailer Conference & Exhibition 2012, Hill Davis, CEO and founder of J. Hilburn, and Todd Morris, CEO of Brickhouse Security, will speak in a session entitled “Hiring the right staff: What it costs to find and keep the right managers for your business.”