London-based customer rewards API framework Antavo has closed its series A round at €10 million. Euroventures led the round alongside Lead Ventures, iEurope, Innovation Nest and private investors including Zoltan Vardy.
Marketed under an SaaS model, Antavo’s software platform serves as a no-code tool with drag-and-drop interfaces, visual editors intended to allow businesses to quickly deploy loyalty programs.
Antavo wants to win over businesses that are ready to move beyond the traditional points-for-goods loyalty system, through features like gamification, social interactions and lifestyle engagement.
The series A funds will support product development. Around 60% of Antavo’s revenue is currently invested into its product for now, allowing quarterly updates and fixes. Antavo is growing headcount also, following a three-fold expansion in employees.
Leading tech consultancies Gartner and Forrester have taken a look at Antavo’s product while clients like BMW, KFC and Kathmandu (the sportswear and camping and tents brand) have announced partnerships.
