Dive Summary:
- Two-year-old loyalty company Belly has raised a total of $12.1 million from six investors, including 7-Eleven's venture capital arm, 7-Ventures, which was established over the summer.
- Belly offers brick-and-mortar retail outlets a digital loyalty network service, and has thus far found interest from small businesses, as well as large operations such as McDonald's and 7-Eleven.
- The new funding round, which counted New Enterprise Associates, DAG Ventures and Cisco Systems among its participants, brings Belly’s total funding to $25 million, as the company looks to expand into new markets.
From the article:
... Consumers carry a card, available in either physical form or on a mobile device that can be scanned at a dedicated iPad at participating merchants. Repeat visits result in rewards, which are determined by business owners and can range from free food to the opportunity to walk in a runway show for local boutique Akira. ...
