Acquisition Expands Mobivity’s Customer Engagement Platform Deployment by More Than 2,000 Merchant Locations
Mobivity Holdings Corp., creators of the award winning re•currency platform that increases customer visits and spend in restaurant, retail, and personal care brands, announced that they have completed the acquisition of the Belly product line assets from Hatch Loyalty. Belly is a leading digital loyalty solution for brick and mortar businesses. Under the terms of the agreement, Mobivity paid $3 Million which was funded through $2 Million of cash on hand and $1 Million of debt. The acquisition is expected to add more than $2 Million in top-line annual revenues, add more than $200k in annual cashflows, and will bring more than 2,000 deployed merchant locations and over 7 Million loyalty members to Mobivity’s accelerating market reach.
Hatch Loyalty is headquartered in Chicago, Illinois and received funding from investment firms including Andreessen Horowitz and Lightbank. The Belly solution has been “Making Businesses Personal” since its launch in 2011.
Mobivity anticipates introducing an enhanced version of the Belly tablet-based loyalty product that is tied directly to the transactional data surfaced with Mobivity’s re•currency platform, allowing brands to tap into the full sphere of loyalty and one-to-one customer attribution for the first time. Similar to Mobivity’s re•currency solution, Belly employs a SaaS-based monthly recurring revenue business model with most of its client base across brick and mortar industries. Adding a leading digital loyalty solution to Mobivity’s re•currency platform, the best way to capture transactional data, analyze and expose unique sales insights, and motivate customers to increase frequency and spend will result in an even more valuable positioning to new and existing Mobivity clients.
“Our re•currency platform drives mobile engagement to more than one in 30 Americans every month, and aggregates, normalizes, and activates an increasing volume of more than 50 million brick and mortar transactions every week. The addition of a method of rewarding loyalty, as well as adding a highly rated smartphone app to our platform, was a simple decision for us,” said Dennis Becker, Mobivity Chairman and CEO. “Running a loyalty program without increasing customer frequency is at best a retention program, and at worst running in place. We believe that with this acquisition and the integration of the Belly loyalty solution into our re•currency platform, our clients will begin to not simply reward a customers’ next visit, which was likely to happen anyway, but that they will be enabled to reward actions that lead to higher customer frequency and spend. You can’t measure true loyalty and frequency without being able to attribute transactions to customers, which is increasingly difficult for brick and mortar brands, and we look forward to redefining loyalty and solving this problem for brands and their customers for years to come.”
With this acquisition, Mobivity anticipates that the Belly application will be integrated directly into the re•currency platform, adding a loyalty application to the platform that allows brands around the world capture unique transactional data directly at the point-of-sale with re•capture, send personalized mobile communications with re•ach, print smarter communications in-store with re•ceipt, motivate employee performance with re•up, and analyze the effect these efforts have on your business with re•cognition.
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