CrowdTwist, a social loyalty and rewards platform, has raised $6 million Series A funding led by SoftBank Capital and Fairhaven Capital with kbs+p Ventures, Bertelsmann Digital Media Investments and other investors participating in the round.
A recent graduate of the inaugural TechStars New York class, CrowdTwist powers loyalty everywhere. The startup’s loyalty software allows a brand’s users to earn points for any activity they do online, both on a brand’s site or on Facebook, Twitter, Foursquare, Youtube and other sites. Users can compete against themselves and others to earn rewards, prize packages and discounts.
On the back end, the platform also helps brands identify their major influencers and understand how an individual customer is interacting with their various properties.
CrowdTwist is already being used by brands like JCPenney and LiveNation. For its clients, CrowdTwist has increased average time-on-site by 250%, average page views per visit by 450% and average purchase size by over 30%.