Investors love I Love Rewards

Posted by Rob Lewis

Techcrunch is reporting that Toronto's I Love Rewards have secured $6.9 Million in Series B funding led by GrandBanks Capital with prior investors JLA Ventures and Laurence Capital participating. The company raised $4 Million in Series A funding in 2008 from JLA Ventures and Laurence Capital.

The company says the funding will be used to expand its sales and marketing efforts. I Love Rewards operates employee rewards and recognition, sales incentive and service award programs for corporations, including Microsoft, Marriott, ConAgra and Bell. Rewards are distributed as ‘points’ that are then used by employees to choose brand name reward merchandise (i.e. Apple), experiences (i.e. travel and special events), gift cards and virtual awards (i.e. music downloads).

Interesting side note: GrandBanks Capital's Managing Partner declared they were "open for business" in Canada in March - he was serious!

Company:
JLA Ventures
Website:
http://www.jlaventures.com
Location:
Toronto, Ontario, Canada

JLA Ventures invests more than just capital. Like you, we are committed entrepreneurs working hard to transform brilliant ideas into successful, technology-based businesses. Founded in 1996, JLA Ventures leverages its principals’ extensive operational, financial, and technological expertise to provide portfolio companies with the necessary tools to become industry leaders. We partner with highly motivated and... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more




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