Webloyalty.com gets another round of financing

Online marketing company Webloyalty.com has received $5 million in additional funding from backers Canaan Partners and BCI Partners, Chairman Rick Fernandez tells Internet Retailer. The company will use the funding to expand its marketing and advertising.

Webloyalty.com creates customized marketing programs to help clients achieve certain objectives, including increasing transactions or traffic at a web site, developing a revenue stream or converting users to buyers of premium web services. The company was founded in 1999 by a group of business people with extensive direct marketing and online membership marketing backgrounds who wanted to bring the concepts of direct marketing and traditional business management to the web, Fernandez says.