Linkable Networks raises funds for linkable offers

The company now known as Linkable Networks raises an undisclosed amount from Citi Ventures

If you’ve ever seen that show “Extreme Couponing,” you’ve probably gotten winded just thinking about all the effort involved in finding, printing, and clipping all of those coupons.  Ugh…seriously, who wants to be the jerk that shows up at the cash register with three shopping carts piled up with Mountain Dew and Cheetos, and a sandwich baggy full of coupons?  I get mad when the person in front of me writes a check.

To streamline the process of obtaining and presenting offers, Clovr Media has developed a platform that lets consumers link offers and deals from virtually every media source directly to their debit or credit card so that the offer is registered at the moment of the transaction—without any pesky sandwich baggies full of coupons.  And now the company is getting a new look.  Clovr Media announced Thursday that it has raised an undisclosed round of financing from Citi Ventures and is changing its name to Linkable Networks.

The funding round follows up on Linkable’s most recent $8.3 million round in March from Bain Capital Partners, Common Angels, and Kepha Partners.  Prior to that, the company raised a seed round this time last year to the tune of $1.5 million from Kepha Partners and Common Angels.

The platform—known as “Linkables”—works by allowing a customer to simply scan, tap, or type a code for an offer on their smartphone straight from ads presented on TV, in print, online, or on the radio.  The offer is then automatically linked to the customer’s debit or credit card, thereby saving the customer the hassle of remembering to present the coupon at checkout, while also allowing brands and stores to track offer redemption and inventory movement.

The platform supports 95% of all debit and credit cards in the U.S. and launches this fall with major banks and media partners.

"Creating value for consumers is at the heart of our innovation and venturing efforts,” said Chris Kay, Managing Director and Head of Ventures for Citi Ventures, in a statement. “One of the ways we do that is by investing in emerging technology providers like Linkable Networks who are providing leading solutions connecting online and offline commerce."

The quest to bridge the gap between online and offline commerce is one that many companies are now taking up.  Notably, eBay launched its new X.commerce platform yesterday, which unites all of its online and offline commerce entities on one platform.

Additionally, mobile fashion has taken the next step with Snapette, a fashion photo sharing app that goes beyond just passing around photos of cute shoes to actually help shoppers locate and buy those items at nearby stores.

Linkable Networks plans to use the new funds from this round to build out the company’s infrastructure and meet the demands of advertising networks to provide Linkables to their advertisers. 

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