DENVER, CO--(Marketwire - Aug 1, 2012) - Plink (www.plink.com), an online-to-offline loyalty program that rewards members for dining and shopping at their favorite national restaurants and offline stores, today announced that it has closed a $3 million Series A round of funding from Grotech Ventures (www.grotech.com). The funding will be used to accelerate development of Plink's platform for offline advertisers, member acquisition marketing and growth of the company's sales, marketing and technology teams.
"Connecting online-to-offline is a challenge for marketers," said Plink Co-founder and CEO Peter Vogel. "Plink bridges that gap and Grotech Ventures' investment brings nearly 20 years of successful experience, an enormous amount of industry know-how, insight, and strategic guidance to propel Plink to the next level."
"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, does not require staff training, Plink does all the marketing 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. It's a risk-free, 100 percent turn-key model for national chains and Plink will soon be adding large retail and travel partners.
Grotech Ventures' investment follows Plink's closing of an angel investment round totaling $633,000 in April (http://mwne.ws/Hf5rCE) led by Matomy Media Group (www.matomy.com) and Ahlborg Acquisitions (www.ahlborgacquisitions.com). In total, Plink has raised more than $4 million to date.
Plink (www.plink.com) is an online-to-offline loyalty program that rewards members for dining and shopping at their favorite national restaurants and offline stores. Plink members create an account at Plink.com, then safely and securely link the credit or debit card of their choice, and begin earning rewards that can be used on Facebook or at Amazon.com, The Gap, Home Depot, iTunes, Nike and Target. Members can earn Plink rewards at Arby's®, Burger King®, Dunkin' Donuts®, Quiznos®, Red Robin® and Taco Bell®, among others. Plink's loyalty platform connects social media and online marketing efforts to offline sales. For more information, visit www.plink.com.
About Grotech Ventures
Founded in 1984, Grotech Ventures is a leading early investor in high-potential technology companies. Grotech seeks investments across the information technology landscape and initially invests $500,000 to $5 million while continuing to invest through the growth of each enterprise. The firm focuses on the Mid-Atlantic, Southeast, and Rocky Mountain regions while being selective in other geographies. Grotech Ventures has built a reputation for being a collaborative, long-term partner for CEOs and entrepreneurs and has the operational knowledge, personal networks, and industry expertise necessary to accelerate growth. Grotech is currently investing for its eighth fund. For more information, please visit www.grotech.com.