Latest Wave of Investment Led by TDF Ventures to Fuel European Expansion; Company Taps TIBCO & Sybase Veteran Invernizzi to Lead EMEA Business Unit
FOSTER CITY, CA–(Marketwired – February 09, 2016) – Stellar Loyalty, the consumer relationship company, today announced $4MM in new funding, completing its Series A round totaling $9MM. This latest investment represents a second infusion of funds led by TDF Ventures along with InterWest Partners. The new financing round will be used to accelerate Stellar Loyalty’s European expansion. The company also announced the appointment of 25-year industry veteran Mario Invernizzi to lead its EMEA business unit.
“In a very short period of time, Stellar Loyalty has gained notable traction by solving a long-standing problem for brands the world over — specifically, how to engage with, reward and satisfy consumers on consumers’ own terms,” said Steve Mankoff, general partner at TDF Ventures. “The Stellar Loyalty team has changed the market dynamics with a modern, mobile-best SaaS solution, and we believe they are poised to capture robust market share in the global loyalty market.”
The loyalty management solutions market is estimated to grow from US $1.4 Billion in 2015 to US $4.0 Billion by 2020, at a CAGR of 23.2% during the forecast period.* North America remains the largest user market of loyalty solutions, followed by Europe. The retail, travel and hospitality, and IT and telecommunication sectors are driving the growth estimates in the EMEA region. Latin America, Asia-Pacific, the Middle East and Africa all represent high-growth market opportunities as companies in these geographies increase investments in consumer loyalty and engagement solutions.
“Across multiple industry sectors we have seen brands replacing legacy systems in favor of the Stellar solution, and new entrants recognizing the competitive advantage of personalized, mobile consumer engagement and transactions,” noted Bruce Cleveland, general partner at InterWest Partners. “We have tremendous confidence in the Stellar Loyalty leadership team to capitalize on new market opportunities both domestically and abroad.”
Appointment of Mario Invernizzi
As part of its strategic growth plan, Stellar Loyalty has established its EMEA business under the proven leadership of Mario Invernizzi. As the company’s EMEA Vice President and General Manager, Invernizzi brings 25+ years of expertise in building successful business and sales operations fueled by strong partner relationships and go-to-market strategies. His experience in enterprise software includes senior leadership roles for multi-national companies, such as Sybase, Microfocus, DataSynapse and TIBCO. Prior to joining Stellar Loyalty, Invernizzi developed the EMEA business for the LoyaltyLab division within TIBCO, successfully delivering profitable business results and establishing his credibility as a leading regional expert on the loyalty / CRM B2C / SaaS markets.
“We couldn’t be more excited to have Mario leading our expansion into the EMEA markets,” said Kevin Nix, co-founder and CEO of Stellar Loyalty. “He is one of the most experienced and respected professionals in the loyalty market. From his strong client relationships to trusted strategic partnerships, Mario’s reputation proceeds him. We are gratified to have his leadership and validation of our platform. Mario has hit the ground running, building an experienced team in Europe and attracting a high quality ecosystem of partners and customers. This latest investment will solidify our European expansion and spur our global growth.”