clutchapp

Get the most recent Tips on Mobile Phones: Mobile Phone Advisor

Clutch, a mobile application for iPhone and Android which aims to integrate present cards, coupons, comparison shopping, gifting, and customized recommendations all under one roofing, has actually raised $5 million in Series B funding, the startup is revealing today. In addition, Clutch is also obtaining ProfitPoint, a provider of gift card and commitment platforms for business.

The financing round was led by Safeguard Scientifics, Inc., an investor in technology business like Beyond.com, as well as in healthcare, as with its recent financing of Medivo, for instance. Clutch’s previous investor Ben Franklin Technology Partners likewise added to the brand-new round.

Unlike numerous these days’s mobile buying apps, which generally focus on one piece of the buying experiences – like mobile couponing, deals informs, or individualized shopping feeds (similar to services like Desire or Wanelo, for instance) – Clutch rather has a various vision which involves it replacing a number of services with one app that does it all. Users can download the Clutch app from Google Play or the iTunes App Shop, then load it up with their present cards, commitment cards, tickets, coupons, and more – sort of like an expanded variation of Apple’s Passbook, however one that can also incorporate with Passbook, if users pick.

Though to some degree, the app competes with other mobile buying friends and pocketbook apps like Lemon or Square, it separates itself by the variety of use cases sustained. As kept in mind above, the app does not simply serve as a pocketbook replacement. It also offers a barcode scanner for discovering the very best rates, social buying through Facebook integration, mobile gifting, and individual item referrals, among other things. As individuals save items to their own desire lists, they can then be notified to nearby deals and discount coupons, too.

Frankly, it’s a lot of features to take in for the average individual, however the app does a decent sufficient job at not overcluttering its interface with the choices readily available.

clutchapp2

You could argue that the app targets a slightly various kind of mobile shopper, as well. Instead of pursuing the more youthful demographic playing around with social item collectors like the above-mentioned Wish and Wanelo, or Fresh, Fancy, Polyvore, and others, Clutch is more interested in the offer hunter – one who wants to share their personal buying information with stores in return for loyalty points and more targeted offers. That puts Clutch up against various other mobile apps in the loyalty space like Shopkick or CardStar, then.

At launch, the business leveraged relationships with brands like Adidas, FTD, SpaFinder, and Maui Jim, to urge sign-ups with gift card free gifts.

But while Clutch is placed today as a consumer-facing mobile app, the company is now working on building devices for stores looking to loop offline, online and mobile commitment into one platform. That is, it’s preparing to branch out and offer stores their own fully-branded, white labeled application which will provide mobile buying, reloadable present cards, kept loyalty points, offers, and more. This is the chance which Safeguard saw – that even more mid-size merchants are attempting to build their own variations of something like the Starbucks mobile application, for instance.

The ProfitPoint acquisition indicates to assist with these strategies, as it generates over 3,000 merchant customers, plus a merchant card processing platform. Clutch had formerly gotten Sqoot a regional offers collector, which rounded up information from Groupon, Living Social, Yelp and dozens of others.

Philadelphia-based Clutch has not done much marketing for its preliminary, beta variation of the customer mobile app, which today has over 20,000 users, the company tells us. Following the raise, the funds will be used to better establish and market the mobile app, along with build out the B2B platform, due out later on this year.