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When CEO Tom Caporaso first began at Clarus Commerce more than a dozen years ago, it was a much smaller organization where everyone was expected to roll up their sleeves and dive into projects.
Today, Caporaso spends a lot more time talking vision and strategy to see how Clarus Commerce — a leading innovator and pioneer in building, managing, and optimizing customizable premium loyalty programs for brands and retailers — can continue innovating to make their more than 80 clients even more successful.
In September of this year, Clarus Commerce acquired PrizeLogic, a leader in digital engagement. The acquisition brings together significant core competencies and proprietary technology to complement both companies’ current offerings.
Caporaso says together, the teams will leverage comprehensive loyalty, rebate, and promotion solutions to create a leading suite of technology and expertise.
“Our bread and butter has been premium loyalty for the last 10 years, but we have had inquiries from clients and prospects about can we power a kind of no-fee tier,” he says. “Unfortunately, our answer had been no, and that really identified an opportunity for us to go out there in the M&A space and start to look at companies that are doing that so that we could build an end-to-end solution.”
In June, Caporaso says his team met with Ryan LaMirand, CEO of PrizeLogic, and his senior team to discuss no-fee loyalty, promotions, rebates and more and also to get a closer look at PrizeLogic’s notorious promotions engine.
“They have great partners that they are doing a lot of rebate programs for, and it’s underpinned by a very large CDP,” Caporaso says. “We got really interested, and as we started to learn more — not only about how they go to market, but really the team and the technology underneath it all — we got really excited. It actually moved forward pretty quickly throughout the summer and closed the deal at the end of the summer.”
Through its Engage platform, PrizeLogic powers 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, Caporaso says 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 premium 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, rebates, and gifts with purchase solutions expand consumer reach, insight, payment, and reward capabilities.
“I think it expands our services by tenfold,” Caporaso says. “The engaging platform that they built is underpinned by the CDP, with the promotion engine layered in, and the rebate focus . We felt really good about the technology as we started to dig in on the diligence front, and also the team that’s really powering it from a go-forward basis.”
Caporaso says Clarus Commerce is thrilled not only with the technology that PrizeLogic brings but also the mutual learning that the acquisition brings.
“I think with the combination of the two companies, we answer a lot of questions,” he says. “It’s having the tools, the technology, and the team that can really help our partners and clients get ahead is really something we are excited about.”
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