Loyalty technology startup secured Pre Series A funding from East Ventures and ACE Capital. Member.id will use this fund for the development of new products, said the company in an official statement.
Jakarta, the capital of Indonesia, based firm Member.id provides loyalty services to SMEs and other businesses. It has raised an undisclosed amount of funding in a Pre Series A funding. The funding round was led by East Ventures, Ace Capital and also few undisclosed Angel investors.
Member.id wants to use this funds for further development of products and to capture more market share in Indonesia, with a focused approach for SMEs, said in a statement By Marianne Rumantir, Co-Founder of Member.id & CEO.
Also, the company is working on to provide solutions to SMEs and many businesses which still find it challenging to manage customer loyalty. They organize loyalty programs for users who find it challenging to find out where to use or redeem their loyalty benefits or check their earned points and claim it. They will create a super easy way for customers of SMEs and small businesses to flourish with their user behavior based targeted campaign for retaining and making users for up sales and down sales from our data-oriented solutions for Small Business.
Member.id focuses on users point management intelligence system that will be helpful for users to do cross uses of redemption point earned by the users. Our SMEs- products will allow having a loyalty program focused on the products.
The company also want to explore the opportunities in the field of Machine Learning Blockchain Data Sciences for creating value for their customers in a long-term strategy said by Member.id’s Chief Strategy Officer, Robert Tedja.
Members.id presently serving many customers including Lifestyle chain ISMAYA Group, which uses Member.id membership program to grow its consumers base over 1000% in just 12 months by exploring more experiments and data-driven based loyalty benefit for its costumers in the past, company said in an official statement.
Investor group venture East Ventures Managing Partner Willson Cuaca said “We believe that Member.id’s knowledge of their customer preferences and behaviors helps them to craft the right to construct and execute effective loyalty strategy that delivers optimum benefits for both the company and their individual customers,” said, Managing Partner of East Ventures on the company’s decision to back Member.id.