Loyalty Solutions Firm Raises AI Funds

Munich, Germany-based enterprise loyalty specialist Loyalty Prime has raised EUR 5m in a Series B round of funding, which it will use to drive the development of its software, based on artificial intelligence.

Through the firm's Prime Cloud software as a service (SaaS) platform, businesses create and manage GDPR-compliant customer loyalty programs using multiple APIs and integrations. Its team of 80 employees is located in three offices, the others in London and New Delhi.

New funding was led by VC fund Hi inov, with participation from existing investors BayBG Bayerische Beteiligungsgesellschaft, Senovo, UVC Partners and The SaaSgarage (Alexander Bruehl). The investment will be used to develop solutions for loyalty program management automation based on artificial intelligence. Using machine learning techniques, Loyalty Prime's AI will be further developed to support loyalty program business rule creation, segmentation and personalisation, next best offer management and fraud prevention.

Christoph Straub (pictured), Loyalty Prime's founder and CEO, comments: 'This is an entirely new level of service we will be able to provide to our customers, helping to unleash the immense power of loyalty programs, creating maximum results, reducing the need for human intervention to a minimum. This will be clearly disruptive and unique to the multi-billion Euro / US loyalty industry'.

Web site: www.loyaltyprime.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.