Monday 14 February 2011

Seamless Receipts: $1.5M to Growth its e-Receipts & Marketing Platform


Seamless Receipts, a New York-based electronic receipts company, announced on Friday that it has received $1.5M funding from various venture capital investors.  The company delivers technology that enables merchants to replace paper with electronic receipts and deliver customized marketing messages.
The objective of SR’s solution is to drive offline customers online, improve engagement and increase sales.  To enable this, they offer basic components, such as email marketing, promotions and social sharing functionalities to more advanced solutions, such as group buying and reviews.
In additionally, SR has partnered with Fitzgerald Analytics to deliver simple but powerful analytics plug-ins.  With these components and with proper POS integration, SR can deliver:
·      Analysis of “shopping basket mix” (“What products do customers buy at the same time? How can they encourage larger purchases?)
·      Optimization of the timing, targeting, and content of messages to customers
·      Measurement of customer loyalty, return-visit incentives, and other data-driven tactics to improve marketing results
This is information that is generally not available to smaller merchants, unless they invest heavily in costly POS systems.
To support distribution of the system, Seamless Receipts announced a partnership with Canadian Retail Solutions (CRS) last year.  CRS provides POS solutions to small and mid-sized Canadian merchants and will integrate Seamless Receipts with its Retail Pro POS solution.  To support further growth, we would expect Seamless Receipts to announce more such partnerships in the time to come.
However, Seamless Receipts is of course not the first company to provide such services.  Apple has long used their email receipts as a marketing platform with customers and Square builds much of its business around the improved analyses it provides smaller merchants and opportunities to use receipts as a communication platform.
Still, not many stand-alone companies offer similar services, and Seamless Receipts’ independence and ability to freely partner with POS providers should provide a great platform for accelerated growth. 

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