Paylode, a Miami, Florida-based business that creates, oversees, and makes money from customer benefit programs, has raised $5.5 million in seed money.
Day One Ventures, Susa Ventures, Vinyl Capital, Struck Capital, and others participated in the round.
The money will be used by the business to develop new digital tools for engaging customers.
Paylode, a rewards marketplace founded by Mikhail Naumov, allows businesses to quickly design and curate their own private-label benefits programs by offering pre-vetted and pre-negotiated deals.
Additionally, it offers capabilities to offer pertinent extras throughout the checkout process, run email campaigns to generate micro-engagement moments, and offer discounts or freebies to encourage particular actions from customers.
The company added more than 1,000 companies and more than 50 clients to its embeddable benefits ecosystem during its beta testing.
Major hotel chains with thousands of sites, residential property managers overseeing millions of rental apartments, consumer mobile apps, and premium insurance providers are among the businesses that use Paylode.
About Paylode
The goal of Miami, Florida-based Paylode is to assist marketers in producing memorable and compelling experiences for their target audience. The partnership model is probably one of the next-generation “best practices” that many organizations will try to use. Including partnerships into the customer loyalty construct is recognized as an inventive technique to provide incomparable value for consumers.
It is evident that consumer value propositions for loyalty programs need to be enhanced. Consumer expectations for loyalty program earnings have changed due to uncertain economic circumstances, from long-term savings to daily equity. As a result, customers seek more value from loyalty programs than ever before. The standard refund level of 1-3 percent simply isn’t sufficient.
Paylode aims to transform the existing loyalty program landscape by facilitating large-scale collaborations and assisting brands in cultivating enduring ties with their clientele by enabling them to make cost-effective purchases at crucial moments.
