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Fremont: California-based PunchTab, a startup offering a social loyalty platform for consumers, publishers and businesses, has raised $4.4 million in Series A funding, led by Mohr Davidow Ventures. The fund will be used to further develop its loyalty and giveaway platform.
Founded in January 2011 by Ranjith Kumaran and Mehdi Ait Oufkir, PunchTab is a service for publishers, retailers and applications vendors to develop an integrated rewards program with no development or marketing cost. The company raised a sum of $850,000 in seed funding from Mohr Davidow Ventures, Embarcadero Ventures, and angels Venky Harinarayan, Anand Rajaraman, and Nick Sturiale. The company currently serves more than 3,000 loyalty programs and thousands of giveaways, reaching more than 7.5 million users each month. It allows bloggers, websites, e-commerce businesses and event organizers to build loyalty and awareness by inspiring consumer engagement and word-of-mouth marketing through online, offline and social channels.
Ranjith Kumaran, Co-Founder, PunchTab, said that they have refined their products according to the need of their customers and ensures their presence with the utmost effective implementation possible to drive real loyalty and meaningful engagement. Prior to co-founding PunchTab, Kumaran co-founded YouSendIt.com where he lead products, raised money and acquired a couple of companies.
Katherine Barr, Partner, Mohr Davidow, will join the board of directors. She focuses primarily on the digital media, consumer Internet and mobile sectors. Barr brings over 13 years of experience in operating and venture.
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