ProfitPoint Raises Venture Financing
ProfitPoint, a gift and loyalty card program provider, has announced it has raised $6 million in equity capital led by New Spring Ventures II L.P., and joined by Clayton Associates.
“We chose to take on the investment capital now because we wanted to better position ourselves to capture a greater share of the stored value gift and loyalty card market, specifically within the mass market,” says Vaden Landers, CEO of ProfitPoint. “We truly believe we have the best product and service available on the market. What we were lacking was the proverbial horsepower needed to rapidly expand our distribution capabilities in order to reach our target audience in the most cost-effective and efficient manner possible.”
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