FiveStars, a company that provides loyalty programs for small businesses, has raised $50 million in funding to provide solutions personalize offline commerce. HarbourVest Partners, with participation from Lightspeed Venture Partners, Menlo Ventures and DCM Ventures, led the Series C round.
The funding will allow Five Stars to expand and connect more customers to businesses, earn more rewards and experience VIP treatment. It will also increase hiring in roles that include sales and engineering.
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“Our vision is to make commerce as personalized offline as it is online and bring exceptional service experiences back in-store,” said Victor Ho, Co-Founder and CEO of FiveStars.
The five-year-old startup helps “mom and pop” businesses create custom rewards programs offering discounts and coupons, which customers can sign up for and check in with using their phone number. The company also provides shopping analytics for small brick-and-mortar stores.
