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PunchTab Reports 700% Year-Over-Year Revenue Growth in 2013, Announces Expanded Product Offerings and Key Customer Acquisition

Companies mentioned in this article: PunchTab

SAN FRANCISCO, CA -- (Marketwired) -- 01/09/14 -- PunchTab, the leading omni-channel loyalty and engagement platform, announced today a sevenfold increase in year-over-year revenue, as leading brands increasingly adopt the company's technology to engage customers, improve long-term retention, and increase sales.

In 2013, PunchTab grew to over 18,000 active loyalty programs, up from 13,000 in the previous year, with a 700% year-over-year revenue increase. Collectively, brands are now using PunchTab programs to reach over 25 million users every month. Additionally, PunchTab now powers over 1,000 programs outside of the US, and continues to expand internationally. In Website Magazine's June 2013 List of Top 50 Loyalty & Engagement Solutions, PunchTab ranked #1. Currently, the company has raised 5.25MM in venture funding through series A.

Key PunchTab customers acquired in 2013 include: Quicken Loans, Arby's Restaurant Group, LLC., Duck Tape® brand duct tape, Così®, The Yankee Candle Company, Bareburger, BCD Travel, RingCentral, MakeUseOf, and other leading brands in CPG, QSR and entertainment.

"We accomplished a great deal as a company in 2013," said Ranjith Kumaran, CEO of PunchTab. "Leading brands have turned to PunchTab to create flexible, measurable, and highly relevant loyalty and engagement programs because they see us as technology innovators and experts in this space. We're very proud of that."

"As we searched for a loyalty and engagement solution, we were very impressed with PunchTab's platform flexibility and the option to extend our program to multiple consumer touch-points," said Dana Springfield, General Manager at The Yankee Candle Company. "At Yankee Candle, we do everything possible to assure that every new experience customers have with our product is as good as or better than the one before it. By working with PunchTab, we can assure customers feel valued and rewarded in meaningful ways as they continue to shop at our retail locations nationwide."

By building a comprehensive set of APIs and adding payment integration, mobile integration, and lifecycle marketing capabilities, the company is prepared to extend the platform to accommodate new markets and emerging channels in 2014.

PunchTab also developed and launched a number of important product improvements, including:

  • Advanced Analytics - Allowing clients to track engagement, purchase behavior, identify influencers, and optimize programs.
  • Mobile - Advanced SDK for iOS and Android, receipt scanning, QR code scanning, and customized mobile products that leverage the PunchTab ecosystem.
  • Infrastructure and Security - PunchTab is PCI Compliant, follows EU Safe Harbor standards, and is TRUSTe certified. Infrastructure enhancements included an additional data warehouse to efficiently query large amounts of data allowing for faster, flexible reporting, and analytics analysis. PunchTab now handles over 3 million loyalty transactions each day.

PunchTab's growth was fueled by key industry hires, including an expanded customer success team to facilitate extensive strategy and optimization for every program. Furthermore, the company brought on Scott Hughes, formerly of Badgeville, as Vice President of sales; and additional sales resources that include teams in Chicago and New York.

About PunchTab, Inc.
Founded in January 2011, PunchTab is an omni-channel loyalty and engagement platform that enables agencies, brands and enterprise organizations to incentivize user behavior and drive business success. PunchTab's customers use the company's flexible solutions to deepen audience engagement, drive purchase, and build awareness by leveraging everything from social sharing and UGC and awareness campaigns, to sophisticated B2E and B2B programs. PunchTab offers both an out-of-the-box product and a fully customizable, white-labeled solution that can reward any action with virtual, social and real-world rewards. For more information, please visit www.punchtab.com.

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Media Contacts:

Ben Barenholtz
Sparkpr
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415.241.5207

Robyn Hannah
PunchTab
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408.823.3863