Aug. 1, 2012
Plink, an online-to-offline loyalty program that rewards members for dining and shopping, has closed a $3 million Series A round of funding from Grotech Ventures. The funding will help accelerate development of Plink's platform for offline advertisers, member acquisition marketing and growth of the company's sales, marketing and technology teams, Plink Co-founder and CEO Peter Vogel, said in a company press release.
"Connecting online-to-offline is a challenge for marketers," he said. "Plink bridges that gap."
For consumers, Plink is a no-brainer, said Joe Zell, general partner of Grotech Ventures.
"Why wouldn't someone join and get rewards for going out to their favorite places? There's no extra card to carry or steps a consumer has to take. In addition, Plink has already proven that huge national restaurant brands love the model and they're already seeing significant increases in consumer purchases."
Plink members can currently earn rewards at more than 35,000 locations nationwide, including Arby's, Burger King, Dunkin' Donuts, Quiznos, Red Robin and Taco Bell, among others. Large restaurant chains have been quick to embrace Plink's online-to-offline loyalty platform because it doesn't require any changes to their existing point-of-sale infrastructure or staff training, Vogel said. Plink does all the marketing, he said, and the restaurants only pay a percentage of the sales that Plink drives. Initial results have shown that Plink members are spending 65 percent more per month at partner restaurants than they were prior to joining Plink.
Read more about loyalty platforms.