Belly, the industry’s leading customer loyalty and marketing platform, today announced that it has secured an initial $12 tranche. 1 million Series B-1 round of venture capital financing from New Enterprise Associates, Andreessen Horowitz, DAG Ventures, Lightbank, Cisco and 7-Ventures, LLC (7-Eleven subsidiary, Inc). (d)
The company is poised to expand its core product offering and to further establish itself as a market leader, thanks to a new round of finance from some of the world’s leading investment influencers. In just 24 months, Belly has established itself as a clear leader in providing a complete loyalty and marketing solution for retailers both large and small, and now has more than $28 million in funding to expand further.
‘We first invested in Belly 15 months ago on the basis of team vision and product potential, but the opportunity was still in its infancy,’ said Jeff Jordan, Managing Partner at Andreessen Horowitz and member of the Board of Directors of Belly. ‘Since then, we have watched as Belly develops into a definitive leader in space and performs on the revolutionary product he has built. Andreessen Horowitz is excited to continue our commitment to this remarkable company. ”
Belly enables merchants of all sizes to digitally connect to their customers through a fully customized reward program tailored to the personality of each business. The company’s innovative solution allows businesses to drive customers back more often, establish social links to increase engagement, facilitate online customer review, target new customer audiences, and gain valuable customer behavior data and analytics.
As part of the evolution of this enterprise platform, Belly also works actively with more than 50 national chains representing more than 700 current locations-a total market potential of more than 40,000 locations across the country.
‘In the past 18 months, we’ve watched Belly scale quickly and have seen through our test with this network the value that Belly can give to 7-Eleven,’ said Raja Doddala, vice president of 7 Ventures portfolio management, LLC. ‘By becoming an investor, 7-Eleven can learn how successful digital loyalty networks drive consumer traffic and offline engagement. ”
Belly provides an entire technology platform, including an in-store tablet, marketing materials and back-end support and analytics, combined with a software tool that enables traders to conduct targeted email campaigns, integrate Belly with their social media and mobile marketing efforts, and obtain detailed analytics.
‘While we are impressed by the adoption of Belly’s core customer loyalty product, the depth of consumer interaction that Belly fosters is the one that most excites us,’ said Tom Grossi, NEA Partner. ‘Belly’s in-store tablets are becoming a gateway for its merchants to establish long-term connections with their customers, to gain valuable feedback and to enhance the relationship between visits. ”
‘We are very excited to welcome our new investment partners to the Belly family,’ said Logan LaHive, founder and CEO of Belly. ‘This new round of capital will enable Belly to continue to expand our team, meet existing customer and market demand, and scale for future growth. We see this round as a validation of what we have built, but we remain fully aware of everything we still need to do. We couldn’t have been more excited to share our mission with these new investors. ”
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About Belly’s
Belly is the country’s leading loyalty platform With thousands of merchants and millions of members, Belly is revolutionizing traditional concepts of loyalty and working with each business to design a customized, unique reward suite that their customers actually want. Using a tablet and single-card or iPhone or Android app, Belly unlocks new opportunities for customer engagement and digital advocacy. Belly is headquartered in Chicago, Illinois and received funding from Andreessen Horowitz, Silicon Valley Bank, Lightbank, NEA, DAG Ventures, Cisco and 7-Ventures, LLC (a subsidiary of 7-Eleven, Inc). (d) Visit
