LOYALTY TECH STARTUP, MEMBER.ID RAISED PRE-SERIES A FUNDING FROM EAST VENTURES, ACE CAPITAL
17 September 2018
JAKARTA, 17 September 2018 — Member.id, a loyalty service provider and technology firm based out of Jakarta, announced earlier today that it has secured an undisclosed amount of Pre-A funding led by East Ventures, followed by Ace Capital and few undisclosed angel investors. The investment will accelerate Member.id new product development which supports its mission to change the loyalty landscape in Indonesia.
Marianne Rumantir, CEO and Co-Founder of Member.id commented, “Many businesses still find managing loyalty programs and points to be a challenge. We see many loyalty programs where the users don’t even know how to check their points balance let alone redeem it. Through a well- designed loyalty program, we can create a hassle-free customer journey and predict the user behavior to create a much more targeted campaign. We create programs where users will stay loyal to their brand even when there are no discounts offered because we focus on creating exceptional experiences and long-term benefits for these users and the businesses.”
Member.id newly developed product will both enhance the consumer experience and enable more businesses to tap in the loyalty landscape.
“We are currently building a consumer-facing product which can be used not only for point management but also points conversion across rewards programs. The second product underway is loyalty product which specifically catered for SME clients.” Added Marianne
Robert Tedja, Chief Strategy Officer of Member.id said, “In the advent of big data, machine learning, and data science, the potential of loyalty programs to create value for both businesses and consumers has amplified exponentially. In addition, the birth of the blockchain technology had created exciting possibilities in integrating a siloed loyalty landscape and solving inefficiencies in existing loyalty systems. In the near future, member.id plans to utilize these new technologies to better serve our clients and consumers alike.”
Member.id has helped one of their clients, Ismaya Group, to grow their customer acquisition by over 1000% in 12 months. The new membership, which supported by Member.id, enable Ismaya Group to create a more emotional and experiential benefit to the most loyal customers.
Aside from Ismaya, Member.id also serves other hospitality clients: The Union Group (Union, Benedict, Café Milano), Syah Establishment (Lucy in the Sky, Sofia at the Gunawarman, Hotel Monopoli), Artotel Group and clients from other industries, namely Djarum Group and a partnership with Garuda Indonesia.
Willson Cuaca, Managing Partner of East Ventures says, “In Indonesia, there are very few companies that effectively invest in the knowledge of their customer preferences and behaviors, leaving customer loyalty as a myth in the country.
We believe that Member.id has figured the right approach to help brands construct and execute effective loyalty strategy that delivers optimum benefits for both the company and their individual customers.”
Jason Chang, Partner at Ace Capital says, “We like to back good founders that have unique insights into a domain where they can have an edge, we see that expertise in Marianne and her team, together bringing a much-needed solution into a large consumer market like Indonesia.”
Member.id is a loyalty service provider and technology firm helping businesses create long-term profitably loyalty solutions by providing a rewarding experience to their users. Currently, the company is serving businesses across different verticals from transportation, hotels, lifestyle, F&B, e-commerce, retail to FMCG. With the goal to be the digital points bank in Indonesia, Member.id focuses not only on technology but also in creating a seamless customer journey through each loyalty program to help businesses increase the value of each program therefore able to create points as currency.