Incentive Logic Secures Series C Funding from Atrium Capital
May 09, 2006
SCOTTSDALE, Arizona. -- May 9, 2006 -– Incentive Logic, Inc., a leading incentive/rewards software and services company, today announced that it raised Series C funding from Atrium Capital. In addition to the funding, Atrium Capital's significant expertise in digital technologies will help fuel and accelerate the rapid growth Incentive Logic expects over the next 36 months.
Incentive Logic specializes in developing, implementing, and managing domestic and global incentive programs offering an entire end-to-end solution, seamlessly integrating the design, management, reward fulfillment, and customer-care support. The company offers over 2,000,000 reward items all through the electronic Folio Reward Catalog. Over the past 12 months, Incentive Logic doubled its client list. Incentive Logic's on-demand technology platform is used by Microsoft Corporation to support the Microsoft Office Live Meeting Rewards program, as well as leading financial, hospitality, and technology companies.
The company's cost effective solution drives measurable results, enhancing customer acquisition, achievement, performance and loyalty. In 2005, Incentive Logic's loyalty programs achieved a 50 percent growth in the number of "points" earned by program members. Overall participation in Incentive Logic's programs grew by 49 percent and the number of rewards that it has processed also increased by 52 percent. This rapid rise in participation highlights that the programs designed and implemented by Incentive Logic are highly successful in motivating employees and customers.
"Our investments are aimed at technology companies with exciting and viable products or services, an attractive business model and a strong management team," commented Bart Faber of Atrium Capital. "Incentive Logic has demonstrated an excellent track record in all these areas, and we look forward to supporting Incentive Logic's continued growth."
Atrium Capital has developed a unique and highly differentiated venture model through its relationships with Fortune 1000 corporations. Atrium differentiates itself from the current array of financing alternatives available to an entrepreneur by offering the ability to leverage the research, sales, marketing, distribution, customer and vendor networks of its corporate partners. www.atriumcapital.com
"While the funding was important, it was management's goal to find a partner that could make a significant contribution to the forward movement of the company" said Roger Hackett, President & Chief Executive Officer of Incentive Logic. "We have found that partner in Atrium."
About Incentive Logic, Inc.
Incentive Logic Inc. works with businesses to develop performance-based rewards that help them achieve their goals. By combining business intelligence with a next-generation software platform, they help clients meet their goals through powerful, flexible incentive solutions that ignite performance. Founded in 1998, Incentive Logic, Inc. is a privately held company headquartered in Scottsdale, Arizona. www.incentivelogic.com
For more information, please contact:
Robert Adler, Vice President PR@vantage
Phone : 415.984.1970 x104, e-mail: radler@pr-vantage.com
Roberto Guerrieri, Senior Vice President of Marketing
Phone : 480.776.0800, e-mail: rguerrieri@incentivelogic.com
Barton Faber, Atrium Capital
Phone : 602.840.1584, e-mail bartonf@atriumcapital.com
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