Final 12 months we covered how “&Open” (sure, “ampersand open,” pronounced “And Open”) had raised a raised $7.2 million seed to make it simpler for manufacturers to ship presents to clients to spice up loyalty and engagement. In line with one research clients who really feel emotionally linked to a model after receiving presents have a 306% increased lifetime worth. &Open competes with Sendoso and ReachDesk, that are in an analogous house.
As a result of the pandemic made us all work remotely, with the ability to ship presents remotely all of a sudden took on a complete new significance. Plus, now “the Nice Resignation” means corporations have to maintain purchasers and staff quite a bit sweeter.
So the Dublin-based &Open, which launched in 2017, has now raised $26 million in a Sequence A led by Molten Ventures, together with participation from First Spherical Capital, LocalGlobe, Tribal VC, in addition to new investor Middlegame Ventures. Different new and present traders additionally contributed to this spherical. The Sequence A brings &Open’s complete capital raised to $33.2 million.
The corporate now has a presence in Eire, the U.Okay, and the U.S., and plans to open an workplace in New York Metropolis within the subsequent 12 months.
Its purchasers embrace Airbnb, Peloton, Spotify, Hopin, Intercom, Wayflyer and BetterUp. It’s additionally launched &Open On-Demand for SMEs.
“Now, greater than ever, corporations are searching for methods to retain staff and foster actual connections with clients and companions,” mentioned Nicola McClafferty, accomplice at Molten Ventures in an announcement. “Working with among the largest world companies and types, &Open has confirmed that gifting, when carried out proper, is an extremely highly effective device to extend model loyalty and construct advocacy.”
The &Open On-Demand gifting market will give SMEs the flexibility to reward extra simply and a pay as they go mannequin, not like &Open’s Enterprise answer, which has an annual contract and SaaS charges.
“All corporations reward — be it their staff, clients, prospects or companions. Corporations reward as a result of individuals energy companies and people relationships have to be nurtured. At the moment, greater than ever, loyalty issues,” mentioned Jonathan Legge, co-founder and CEO of &Open.
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