AppCard, a marketing and loyalty program platform, has raised $20 million in Series B funding, led by German entrepreneur Alexander Rittweger, founder of Loyalty Partner, and PLDT Capital.
AppCard was founded by Israeli entrepreneur Yair Goldfinger, who co-founded the ICQ messaging service that was sold to AOL, and Amichay Oren, previously of Jajah and Vonage. The startup is now based in New York.
Previous investors including Founders Fund, Innovation Endeavors, and Jerry Yang also participated in the funding round. It previously raised $6.5 million in a Series A round in 2012.
“The AppCard platform caught our attention because of its advanced technology and creative business model,” said Winston Damarillo, co-managing director at PLDT Capital, the investment arm of the Philippine Long Distance Telephone Company, which previously invested in Rocket Internet.
The startup is targeting small to medium sized businesses like retailers with its AI and smart data capture tools for marketing directly to their customers. It will use the new funds to further its customer base and development of the technology. Today it also launches its re-branding with a new logo, website, and apps for iOS and Android.
“I’m convinced that AppCard’s advanced technology will help us build a performance-marketing platform unrivalled in the small and medium-sized business marketplace,” said Rittweger. “I’m excited to marry my global loyalty experience with this team’s exceptional digital experience."