Perkbox has acquired Loyalty Bay, a global SaaS platform for the automated delivery of digital rewards. The Loyalty Bay platform is used by businesses to optimise acquisition channels and drive customer engagement and retention. The key to this is Loyalty Bay’s data analytics and rewards delivery software. This enables stronger relationships between brands and their customers.
Loyalty Bay digitises the process of rewarding customers at important touch points, from onboarding to purchasing, upselling and referring friends, cementing complaint resolution and rewarding long-term loyalty. Loyalty Bay provides rewards for their customers in 21 markets globally.
Loyalty Bay’s technology replaces the process that was traditionally manual and hard to track, at a company-wide level. The Loyalty Bay solution integrates with existing CRM and customer feedback systems. Loyalty Bay ensures the right personalised reward is directed to the right customer at the right time.
In a short time, Perkbox has built one of the UK’s most successful digital engagement platforms, offering employers a wide choice of financial, health and wellbeing perks with which to recognise and reward their employees. Based in London and Sheffield, the firm has 180 employees. Perkbox helps companies of all sizes attract, motivate and retain staff by creating a positive and supportive working culture.
Perkbox and Loyalty Bay will operate autonomously, with each business concentrating in its specialist area of employee and customer engagement, respectively. Perkbox’s proven success in rewarding and motivating employees in multiple sectors will profit from Loyalty Bay’s pioneering technology and global footprint, while Loyalty Bay will gain access to Perkbox’s strengths in marketing, acquisition and business development. This synergy will place Loyalty Bay at the at the forefront of the emergence of rewards as a key competitive advantage for winning and retaining customers.
Says Saurav Chopra, CEO and Founder Perkbox;
“I am confident that our joint strengths will quickly make us a key exporter in the field of advanced customer strategy. By uniting the industry leaders in customer conversion optimisation with our proven customer and employee engagement platform, we will widen our appeal among existing and new clients in UK PLC and abroad”.
Says William Roberts, CEO, Loyalty Bay;
“ More and more companies realise that over time, they will have to reward their customers for their data, their feedback and their transactions, offering incentives rather than dropping prices. We help by applying technology, data and behavioural science to the process, enabling clients to nudge their customers over the line. Perkbox will give us the commercial framework and scale with which to develop our services and apply them to new sectors”.
Perkbox was created by Saurav Chopra and Chieu Cao in 2014. Today it ranks among the leading providers of employee benefits programmes for thousands of companies of all sizes such as Nando’s, Holland & Barrett, Royal Berkshire NHS Trust, Levi Strauss, Wasabi, Noble Foods, Firmdale Hotels, Hawksmoor and Revolut. To date, Perkbox has raised over £11.0 million in funding from investors such as Alex Chesterman, founder of LoveFilm & Zoopla, Sherry Coutu, former advisory board member at Linkedin, as well as the leading European venture capital firm Draper Esprit.
Loyalty Bay was founded in 2014 by William Roberts and Alex Farquhar. Its clients include The Financial Times, Compare the Market and Boundless among others. To date Loyalty Bay has raised funding from a number of venture capital firms including Howzat Partners and Forward Partners.
Perkbox was recently listed at number 2 on the “LinkedIn Top Companies | Startups UK: The 25 industry disruptors you need to know now” list. See: https://www.linkedin.com/pulse/linkedin-top-companies-startups-uk-25-industry-you-need-emily-spaven