Thanks to Allegro Venture Partners and welcome to our board, Julie Allegro. Thanks also to Floodgate, Swan and Legend Ventures, and existing investors Western Technology Investments and Innovation Endeavors.
This is a wonderful affirmation of our enterprise strategy – Rewards as a Service! Tango Card is the modern rewards partner to the enterprise.
“We have a simple, but ultimatley disruptive belief that drives us: Rewards and recognition will be seamlessly integrated into modern platforms – this integration will drive engagement and differentiation for the platforms that do it and delight for the consumers that use the platforms.”
“David Leeds, founder and CEO of Tango Card, says the company will be using the funding for the first stages of its international expansion and to continue building out its existing sales and marketing efforts around its enterprise service, in which businesses offer employees and customers gift cards as part of incentive and reward schemes. To date, the company has over 80 live enterprise customers covering 600,000 users and grew 500% from 2011 to 2012 in terms of revenue.”
“Tango Card’s pitch is that it can provide a cost-effective back end to run these services, and offer more engaging rewards to boot — “rewards as a service,” in Leeds’ terminology. When these services have been outsourced in the past, it’s been to large third party companies like Maritz, Carlson and Affinion, which offer gift catalogs rather than gift cards for recognised retailers. These catalogs and the services of larger companies tend to be priced at higher rates than Tango Card offers, and as for the offerings in the catalogs, “people are just not interested in crystal clocks and t-shirts anymore,” says Leeds.”