CrowdTwist, a US-based developer of loyalty and analytics software, has raised $9m in a series B round backed by several corporates.
The round was led by venture capital firm StarVest Partners, and also included by Softbank Capital, the investment affiliate of telecommunications company Softbank, KBS+ Ventures, the investment arm of advertising agency KBS+, Bertelsmann Digital Media Investments, the corporate venturing unit of media conglomerate Bertelsmann, and VC firm Fairhaven Capital Partners.
Bertelsmann, Softbank, KBS+ and Fairhaven all previously contributed to CrowdTwist’s 2011 series A round, which raised $6m. The company’s latest press release claims it has raised $20m since it was founded in 2009.
CrowdTwist provides a cloud-based meta network for businesses to share and exchange different brand loyalty programmes. It will use the capital from its series B round to scale and grow its offering.