Sweet Tooth Secures $2.25M in Seed Financing

Posted by Techvibes NewsDesk

Waterloo's Sweet Tooth Inc. announced today it has secured $2.25 million in funding. $1.5 million will be in the form of seed financing from OMERS Ventures, the Ontario government funded MaRS Investment Accelerator Fund (IAF) and Points International with an additional $750K is forthcoming from other sources.

Launched in 2009, Sweet Tooth provides a turnkey, user-friendly system for merchants to create 'points' programs and deliver online and in-store rewards to their customers. Sweet Tooth has helped over 1,500 merchants actively engage and reward more than 15 million consumers worldwide.

"As online shopping continues to grow, the Internet has become retail's new battleground for customer loyalty and retention," said Sweet Tooth founder and CEO Jay El-Kaake. "There are thousands of competitors for every eCommerce dollar, so when a customer makes a purchase online it is imperative that the customer is retained and engaged - or their next purchase might be with the competition.

Sweet Tooth will used the proceeds of the financing to expand their team and loyalty platform in order to accelerate this growth.

Company:
MaRS
Website:
http://www.marsdd.com
Location:
Toronto, Ontario, Canada

MaRS connects the communities of science, business and capital and fosters collaboration among them. This happens physically through location of research labs, companies of all sizes, business advisors, investors and professional services within the MaRS Centre and more broadly through hands-on advisory services, entrepreneurial programming, our structured networks and expanding electronic community. Located in... more

Company:
Points.com
Website:
http://www.points.com
Location:
Toronto, Ontario, Canada

We take pride in our energetic team environment and strive to create a balanced and rewarding workplace. At Points.com, we work in a fun and casual atmosphere where work and commitments are taken seriously. And we make sure all of our team members know just how much they are appreciated. Located in downtown Toronto, Points.com is a vibrant Canadian Internet company that has experienced success in both the North... more

Company:
OMERS Ventures
Website:
http://www.omersventures.com
Location:
Toronto, Ontario, Canada

We're OMERS Ventures and we are as passionate about your success as you are about your company. We are looking for like-minded partners who have a shared vision of building a vibrant and successful Canadian knowledge economy. OMERS Ventures is the venture capital arm of OMERS, one of Canada's largest pension funds with over $53 billion in net assets. more

Company:
Sweet Tooth
Website:
http://www.sweettoothrewards.com
Location:
Kitchener-Waterloo, Ontario, Canada

Sweet Tooth helps over 3,400 online retailers keep their customers loyal. As the world’s leading loyalty platform, Sweet Tooth helps brands create point-based programs and campaigns in order to substantially increase sales. Visit Sweet Tooth at sweettoothrewards.com or follow Sweet Tooth on Twitter: @sweettooth. more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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