Beintoo, which has a loyalty rewards and monetization platform for mobile games, apps, and sites, has secured $5 million in Series A funding led by Italian VC firm Innogest Capital. The startup won the startup competition at Le Web in Paris last year.
Beintoo has managed to get itself onto – it claims – 10 million direct users spanning 100 million devices in less than a year by offering a simple way to effectively put gamification into any app.
On Beintoo, users’ activities and time spent in games, apps, and on the web can be translated to “Bedollars” loyalty points which can then be redeemed in online and offline stores says Antonio Tomarchio, CEO. “We find that transforming time spent in an app to real benefits results in high conversion rates.”
Split between Milan and Palo Alto, the company now plans to expand further in North America and Asia, with an emphasis on sales, and partnerships with brands and developers.
Other competitors in the mobile loyalty sector include venture-backed Belly Inc., Facebook’s Tagtile, Stampt, GetPerka, and Punchd, which was acquired by Google.