Ifeelgoods, the customer rewards platform founded by French entrepreneurs, has raised $6 million in funding from employee benefits and business services firm Up Group along with Idinvest and Tugboat Ventures.
Ifeelgoods, which is now headquartered in Silicon Valley, has built a platform that allows businesses and brands to create and manage loyalty and promotional campaigns.
Brands using Ifeelgoods’ platform include McDonald’s and Samsung. The startup recently signed a new partnership with Japanese corporation ITOCHU.
The new funds will be used to further its product development with the startup aiming to launch a self-service platform by the end of the year, according to cofounder Dimitri Ducourtieux and to push its expansion into North America and Europe.
As part of the investment, Up Group will have exclusive distribution of Ifeelgoods’ tech in France.
“This deal illustrates our ability to innovate by collaborating with startups having a clear step ahead of the market and to bring our experience to introduce a full scale offer in the employee benefits, loyalty and rewards industry,” said Nathalie Costigliola, director of the employee benefits and rewards department at Up Group.
“Besides a natural fit between our offerings, we have been seduced by the core value of Up Group which is a major player in the Social innovation,” said Ducourtieux.