INSUBCONTINENT EXCLUSIVE:
this year versus a mere 1.9% for physical retail, according to eMarketer
and communication with shoppers that online portals like Amazon provides.Punchh, a company that got its start in loyalty cards (hence the
name) but has since expanded into a wider world of analytics and customer personalization to tap into that trend, is today announcing that
it has raised $40 million to continue expanding its business
The funding is being led by Adams Street Partners and Sapphire Ventures (which also led its previous round of $30 million in April 2018),
with AllianceBernstein also participating.To date, Punchh has raised around $73 million, with its valuation over $300 million
last valuation, which was around $100 million
PitchBook has filled in the blanks: A first close of this round this summer, for just over $35 million, came in at a pre-money valuation of
$300 million, which would make this about $340 million.)Punchh has built most of its business up to now in the restaurant industry
track what they are buying, and the ability to build subsequent discount and other promotional campaigns around that
with 2,100 stores in 16 states in the Midwest, is a sign that the strategy is working.The opportunity that Punchh is targeting is somewhat
business, in part because our spending habits have changed, in part because everything has been digitised and retailers are looking for ways
stores like Amazon have leveraged the model of personalization and seized the opportunity to use data to offer it in their own style: by
partner at Adams Street Partners, in a statement
