Enterprise Loyalty Cloud, Antavo, Closes €10M Series A Giving Rise to Next-Gen Omnichannel Loyalty Programs
November 9, 2022
The funding will enable the expansion of Antavo’s global presence and further development of the best-in-class, no-code loyalty technology for enterprises.
LONDON- November 9th 2022 Enterprise Loyalty Cloud platform, Antavo, has successfully closed its Series A round at €10M led by Euroventures alongside Lead Ventures, iEurope and Innovation Nest and private investors including Zoltan Vardy, empowering the company to develop its best-in-class SaaS platform.
The new investment will enable Antavo to continue reinvesting in its technology for greater omnichannel capabilities and superior integration with more apps and platforms, while expanding its global presence. In 2022, the company signed major global brand customers including BMW, KFC, Kathmandu and BrewDog, resulting in 3.2X year-on-year growth and a 3 fold increase in headcount.
Now more than ever, customer retention is becoming the top priority for businesses as the world today faces a looming recession and new customer acquisition remains challenging. Key industry reports have highlighted this shift including Fortune Business Insights, which stated that “the loyalty management market is forecast to be worth $24B by 2029 due to rising consumer demand for personalised solutions”, while similarly, Antavo’s Global Customer Loyalty Report 2022 found that 82% of businesses plan to double down on loyalty in the next three years.
With a focus on rewarding customers for living in accordance with their interests, for example, an activewear and outdoor equipment brand could issue reward points to customers when they complete hikes and climbs, Antavo is enabling a transition from the traditional, transactional, financial-only rewards programs towards programs that fosters long-lasting loyalty and customer engagement outside of the buying cycle.
In light of the fundraising, Zsuzsa Kecsmar, Co-Founder and Chief Strategy Officer of Antavo, was interviewed live on Sky News by Ian King. Other than sharing the details of the fundraising, Zsuzsa also went over the evolution of loyalty programs, and what role reward programs will play in the industry in the coming years.
Zoltan Toth, Partner at Euroventures said: “We believe that current market trends of increasing customer acquisition cost, unlimited choice for consumers and the increasing difficulty to acquire relevant consumer data magnifies the importance of customer engagement and loyalty programs. Antavo has tremendous growth potential. We are excited to help the team to grab this opportunity and expand its services globally and meet the challenges of a growing organisation and client base.”
Michael Scott, Rip Curl’s CCO commented, “At Rip Curl we have identified a pretty major opportunity for us to build the largest and most engaged surfing community in the world. This is what our membership program has been designed to do – and thanks to Antavo we can deliver more personalised messages at scale. We’re thrilled that Antavo is expanding its presence globally as we invest in more innovative ways to ensure our retail brand remains future-fit as we continue to evolve our brand to engage, inspire, educate and entertain our community.”
Attila Kecsmar, Co-Founder and CEO of Antavo said, “All enterprises today need more creative and direct ways to engage their customers beyond transactions to keep their market share, even if the spend is declining precipitously. In the post-pandemic world, loyalty programs are having a renaissance in providing this embedded brand love. Antavo understands this, as do our investors, and we are excited to receive their backing.”
Zsuzsa Kecsmar, Co-Founder and Chief Strategy Officer of Antavo added: “Antavo saw incredible growth last year, which, along with the dynamic loyalty program landscape change, brought us to a rebrand as Enterprise Loyalty Cloud. This refreshed position better encompasses the company’s goal and the support of our investors in our Series A round means we can continue to develop a powerful, world-first SaaS loyalty product that encourages and nurtures lasting brand love through differentiation and unique lifestyle engagement.”
Antavo’s no-code, self-serve platform provides brands with a new format that enables far more creativity and management without the need for IT resources. Drag-and-drop interfaces and visual editors, facilitate quick and easy changes to provide users with next generation loyalty programs featuring gamification, social interactions and lifestyle engagement.
What is Antavo?
Antavo is the AI loyalty and incentives platform that brings together loyalty, promotions, and agentic AI to turn customers into regulars: the customers who come back on their own, buy more often, and bring others with them. For more than a decade, Antavo has powered identity-led loyalty strategies for brands including SKIMS, Paul Smith, KFC, Flying Tiger, and Hyatt’s Inclusive Collection. Marketers build, change, and launch programs and promotions themselves, without waiting on engineering. Learn more at antavo.com.
Media contact:
Yourstory PR for Antavo
Frequently asked questions about Antavo
What can brands build with Antavo?
Brands use Antavo to run the whole loyalty and incentives program on one platform: points, tiers, challenges, streaks, referrals, clubs, and rewards beyond discounts; promotions and incentives for members and non-members alike, from bonus points and promo codes to bundles and cart-level offers; and agentic AI built in. Everything runs online, in store, on mobile, and in wallet, and marketers launch it themselves.
Who uses Antavo?
Antavo works with mid-market and upper-mid-market brands across fashion, retail, beauty, travel, hospitality, restaurants, and sports in North America and Europe: multi-market, omnichannel brands with a strong identity and customers worth keeping, including Paul Smith, KFC, SKIMS, Rip Curl, Benefit Cosmetics, and Hyatt's Inclusive Collection.
How long has Antavo been around?
Antavo was founded in 2012 and has been building loyalty programs for more than a decade, with teams across Europe and North America serving brands worldwide.
Why do brands switch to Antavo?
Most loyalty programs get stuck: reduced to a discount engine, generic to customers, or too rigid to evolve. Antavo removes those compromises. Brands get a program that feels unmistakably their own, loyalty and incentives on one platform, and the depth to handle tiers, expirations, refunds, and many markets at scale. Their own marketers run it: a tier change in an afternoon, live when they press the button.
How does Antavo use AI?
Antavo's agentic AI is built in, not bolted on. Two named agents do the work: the AI Loyalty Expert, which turns your ideas into a build-ready program, and the AI Analyst, which turns your data into clear answers and reports. Both work inside Antavo or connect to Claude and ChatGPT, and every answer is grounded in your own program and data.
What does Antavo integrate with?
Antavo is API-first with real-time webhooks and deep pre-built integrations, from Shopify, Klaviyo, Braze, and Bloomreach to the CRMs, CDPs, ESPs, and POS systems you already use. Antavo plugs into the stack you already run rather than replacing it.
