Pirq receives $1.2 million investment for digital punch card
In a recent article in the "Puget Sound Business Journal" by Emily Parkhurst, we learned that Kirkland-based Pirq has received an investment of $1.2 million in a round led by Kirkland-based Rally Capital:
Pirq CEO James Sun said the company was using the funds primarily to buy and customize tablets that are outfitted with Pirq's software and shipped off to customers.
Pirq's technology lets merchants track when customers come and how much they spend and allows companies to customize and change the deals they offer.
While the tablets display a Microsoft Tag code, similar to the black-and-white QR codes customers are used to scanning with their smartphones, the technology also allows merchants to offer the digital loyalty program to customers without smartphones using text messages.
While many deal sites send a daily deal to everyone, Pirq has developed a digital punch card that lets regular customers log every time they buy something at a store. The store can reward them for their loyalty with deals and other incentives.
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