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Clarus Commerce, a leading innovator and pioneer in building, managing and optimizing customizable premium loyalty programs for brands and retailers, today announced its acquisition of PrizeLogic, a leader in digital engagement. The acquisition brings together significant core competencies and proprietary technology to complement both companies’ current offerings. Together, they will leverage comprehensive loyalty, rebate and promotion solutions to create a leading suite of technology and expertise. This will help brands drive engagement and influence behavior across the entire customer journey in any consumer spending category.
Clarus Commerce’s recent data study revealed 68% of consumers believe their loyalty is more difficult to maintain than ever before, suggesting there’s never been a more critical time for brands to deliver a unique, consistent experience across every touchpoint throughout the buying process. With PrizeLogic’s diverse set of loyalty and promotion capabilities paired with Clarus Commerce’s full suite of services and industry expertise, both companies will provide the comprehensive end-to-end loyalty solution for clients to effectively meet customer needs and increase brand engagement.
“The acquisition of PrizeLogic represents an incredible opportunity to invest in proprietary technology that will allow us to offer a wider array of services, further deepen our domain expertise and continue to enhance the value proposition of our offering for our clients,” said Tom Caporaso, CEO of Clarus Commerce. “We are excited to welcome and partner with a highly experienced team with a proven track record of delivering innovative, award-winning solutions to some of the most recognizable brands in the world, and we look forward to collaborating with them as we embark on our next stage of growth.”
Through its Engage™ platform, PrizeLogic combines industry leading insights with turnkey data activation to power incentive programs for Fortune 500 brands such as Molson Coors, PepsiCo, Samsung, T-Mobile, Lowe’s and Capital One. By bringing PrizeLogic under the Clarus Commerce umbrella, brands will be offered several enhanced benefits:
Comprehensive End-to-End Loyalty Solutions: PrizeLogic’s diverse set of loyalty solutions (points, punchcard, multi-action dashboards and rewards) significantly augments Clarus’s industry-leading loyalty capabilities.
Robust First-Party Data: The Engage Customer Data Platform (CDP) will house rich first-party insights on engagement and purchases from millions of consumers.
Industry-Leading Credentials: Clarus PCI Certified Payment Services and PrizeLogic - Engage Platform’s security credentials including SOC 1 Type I, ISO/IEC 27001:2013 and ISO/IEC 27701 combine to offer the highest level of commitment to data security and privacy compliance.
Consumer Engagement Capabilities: PrizeLogic’s full suite of capabilities including sweepstakes, contests, fire drills and social kickbacks adds additional engagement capabilities to Clarus’s loyalty solutions.
Enhanced Promotions and Rebate Capabilities: Diverse set of promotions, rebate and gift with purchase solutions expands consumer reach, insight, payment and reward capabilities.
“We are thrilled to announce our acquisition by Clarus, which brings together two highly experienced and respected loyalty and consumer engagement organizations,” said Ryan LaMirand, CEO of PrizeLogic. “Our complementary technology, capabilities and customer-centric culture will create significant opportunities that should position us to continue to drive innovative solutions that further support the evolving demands of our clients.”
Financial details of the transaction have not been disclosed. BrightTower acted as exclusive financial advisor to PrizeLogic and their lead investor Pamlico Capital.
To learn more about how Clarus Commerce and PrizeLogic are delivering end-to-end loyalty solutions for today’s leading brands and agencies, please visit https://www.claruscommerce.com/ or https://prizelogic.com/
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