Antavo received an investment of €10 million. The startup is reimagining customer loyalty to better engage customers on a personal level and help build long-term loyalty.
Customer retention is always an important business priority. Loyal customers can help drive revenue and growth. But today, amid rising costs and economic uncertainty, customer retention and genuine brand loyalty are arguably more important than ever. As consumers become more reluctant to spend money, especially on new brands, being able to leverage and grow an existing base offers a way to stay ahead of the game. The loyalty management market is estimated to be worth $24 billion by 2029, driven by growing consumer demand for personalized solutions.
Investment details
Increasingly, offering incentives is the way to encourage customers to stay engaged, and Antavo is empowering businesses to do just that. The London-based company has developed a no-code platform that improves its customer retention and loyalty strategy and has now closed a Series A funding round.
The $10 million tour was led by Euroventures. Other investors included Lead Ventures, iEurope and Innovation Nest. Among the private investors was Zoltan Vardy.
Euroventures Partner Zoltan Toth said: “We believe that current market trends, such as the rising cost of customer acquisition, unlimited choices for consumers, and the increasingly difficult availability of relevant consumer data, are increasing the importance of customer engagement and loyalty programs. Antavo has tremendous growth potential. We are excited to help the team seize this opportunity and expand its services globally and meet the challenges of a growing organization and client base.”
Source: Girisimhaberleri / Translated by Irem Yildiz