San Francisco-based incentive marketer MyPoints.com Inc. has closed on a $10
million round of new financing lead by Technology Crossover Ventures, a venture
capital firm focused on the information technology arena.
“TCV firmly believes the Internet is rapidly embracing direct marketing and
loyalty programs as we approach the new century,” said TCV Associate Michael
Linnert.
“MyPoints.com is a clear early leader and is well positioned to dominate
these two emerging Internet markets.”
MyPoints.com, formerly Intellipost, operates MyPoints and BonusMail, services that reward consumers
who read and respond to relevant offers by e-mail and on the Web. Rewards
points earned through either program may be redeemed for a wide variety of
products
and services.
This round of financing brings total investment in MyPoints.com to $35
million.
“Our partnership with TCV will enable us to extend our lead as a provider
of direct marketing and loyalty solutions,” said Steve Markowitz,
MyPoints.com chairman and CEO.
Other MyPoints.com venture capital and strategic investors include: Applewood
Associates; Brierley & Partners; Dai Nippon Printing Co. Ltd.; Experian; the
partners of Kohlberg Kravis Roberts & Co.; Labrador Ventures, an affiliate of
Draper Fisher Jurvetson; and PRIMEDIA Ventures, the venture arm of PRIMEDIA
Inc.
