Clutch Raises $5.0M to Close Series B, Led By Safeguard Scientifics
May 26 2015 - 9:46AM
Business Wire
Additional funding enables Consumer Management
pioneer to accelerate growth and market expansion
Clutch, a leading provider of Consumer Management solutions to
customer-focused brands, announced today that it has raised $5.0
million, led by Safeguard Scientifics (NYSE:SFE), which closes its
Series B round that now totals $13.2 million. This brings Clutch’s
total funding to $14.4 million, including $12.3 million from
Safeguard through its participation in the company’s Series A and
initial Series B financing rounds. Clutch will use the proceeds of
this round to accelerate its marketing and sales initiatives to
expand into an array of markets including specialty retail,
apparel, media, hospitality and pharmaceutical/healthcare.
This latest capital infusion comes on the heels of Clutch’s most
successful year to date, highlighted by record sales and revenue,
as well as a series of enhancements to its Consumer Management
platform now used by more than 750 customers. During the first
quarter of 2015, Clutch added several new clients including
Crabtree & Evelyn, Meineke and Brooks Running, and also
expanded existing programs with clients like Theory, Pandora, and
Marbles, all of which are incorporating consumer management
intelligence as part of their marketing strategy.
“One of most significant deficiencies consumer businesses have
is a fundamental lack of understanding of their customers in terms
of who they are and how they interact with the brand. This is
largely due to an inability to centralize their fragmented consumer
data across disparate sources,” explained Ned Moore, Co-founder and
CEO of Clutch. “Clutch’s ability to synthesize a brand’s
cross-channel customer data not only delivers a complete view of
its Most Valuable Customers, but allows the brand to intelligently
engage and motivate its customers on a personal level. This has
positioned us to help deliver exceptional customer experiences to
many of the world’s leading brands. We are incredibly excited that
Safeguard has re-upped its commitment to Clutch to help us achieve
our vision.”
“It has been proven that brands that employ successful
customer-focused marketing programs typically experience higher
revenue and increased profitability, yet most still focus a
majority of their marketing efforts on acquiring customers,” said
Erik Rasmussen, Managing Director at Safeguard and Board
Member at Clutch. "Clutch’s Consumer Management platform
enables brands to gain a deep understanding of their customers
through data and analytics, in order to provide a rich customer
experience that ultimately results in increased revenue. We are
excited to be part of the impressive success and growth at Clutch
as it continues to pioneer the Consumer Management space."
About Clutch
Clutch empowers consumer-focused businesses to identify, target
and engage their Most Valuable Customers (MVCs). The company’s
advanced Consumer Management platform integrates traditional
point-of-sale (POS) and ecommerce data, along with consumer social
and mobile activity to create more meaningful engagements,
longer-lasting relationships and most importantly, more successful
customers. Headquartered in the Philadelphia area, Clutch supports
over 750 retailers globally and more than 46 million consumer
accounts. Clutch is a proud partner company of Safeguard
Scientifics (NYSE:SFE) and Ben Franklin Technology Partners. For
more information please visit clutch.com, follow Clutch Holdings on
LinkedIn or follow @ClutchSuccess on Twitter.
About Safeguard Scientifics
Safeguard Scientifics, Inc. (NYSE:SFE) has a distinguished track
record of fostering innovation and building market leaders. For six
decades, Safeguard has been providing growth capital and
operational support to entrepreneurs across an evolving spectrum of
industries. Today, Safeguard is focused specifically on two
sectors—healthcare and technology. Specifically, Safeguard targets
early- and growth-stage companies in advertising technology,
digital media, financial technology, enterprise software, Internet
of Things, devices, diagnostics, digital health and healthcare IT.
For more information, please visit www.safeguard.com or
Follow Us on Twitter @safeguard.
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Media Contactfama PR, Inc.
for ClutchTed Weismann, 617-986-5009clutch@famapr.com
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