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 email 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.