US-based social loyalty and rewards network CrowdTwist secured $6m in series A funding on Monday in a round led by venture capital firms Softbank Capital and Fairhaven Capital.
The round also featured Bertelsmann Digital Media Investments (BDMI), a corporate venturing unit belonging to the Germany-based media conglomerate Bertelsmann, and kbs + p Ventures, the corporate venturing division of advertsing consultancy firm Kirshenbaum Bond Senecal + Partners.
CrowdTwist raised $1.5m in seed funding in September 2010, but none of the firms above were featured, according to the official filing with the US Securities and Exchanges Commission.
CrowdTwist gives companies the ability track and reward customer engagement across any social or mobile channel, both online and offline. CrowdTwist itself has estimated that the service has increased the average purchase size by 30% among firms which have taken it up.