Clovr Media, which bills itself as a provider of ‘loyalty 2.0’ solutions, has raised $8.3 million in a round of funding led by Jeffrey Glass of Bain Capital Ventures. Clovr Media’s seed round investors Kepha Partners and Common Angels also participated in this round, as did angel investor Mark Wright.
Clovr has built a platform that converts banners, text links, videos or mobile ads into what it calls card linked offers or CLOs in a bid to lead the way to the next phase of digital couponing and loyalty programs.
Clover Media helps financial institutions bring offers from the brands they prefer to its customers via credit and debit cards. The offers thus link interactive advertising spending to consumer purchasing (‘clicks-to-bricks’ tracking and analytics).
The company allows advertisers to offer special discounts to consumers while in the purchase consideration phase along with providing an immediate reward after the item is bought.
No point of sale integration, no mail-in rebates or paper coupons, and discounts appear directly on the consumer’s bank statement. Explanatory video below.
Offermatic, which just raised $4.5 million from Kleiner Perkins Caufield & Byers, Ron Conway, Omar Hamoui and others, also operates in this space.