Updata Partners invests $35M in Bridge2 Solutions
Bridge2 Solutions, Inc., the pioneer and global leader of innovative technology solutions for the loyalty and rewards industry, announced today it has raised $35 million from Updata Partners. This is the first equity financing in the ten-year history of Bridge2 Solutions, a company that connects loyalty and rewards members directly with commerce partners for ubiquitous redemption of loyalty currencies.
By enabling point redemption, Bridge2 Solutions helps program sponsors reinforce their brands, drive loyalty, and unlock the billions of dollars-worth of unspent purchasing power held by their customers.
The Updata investment comes during a time when Bridge2 Solutions is experiencing significant growth, both domestically and internationally. Today, the company provides its software-as-a-service (SaaS) redemption platform to four of the top ten North American financial institutions, two of the top three global financial companies, and many other leading organizations.
Bridge2 Solutions plans to use the capital to build on this momentum and further penetrate its core markets as well as expand into complementary verticals.
“We are thrilled to have developed a partnership with Updata for our capital raise,” said Craig McLaughlin, CEO and founder of Bridge2 Solutions. “We wanted a financing partner that brought proven, successful operating experience to the board room, and we have found that and more with Updata. I am confident the addition of Updata will help the company accelerate its expansion and will be a great add to our team.”
”Updata is excited to support Bridge2 Solutions as the technology disruptor in a large and expanding market,” said Carter Griffin, general partner at Updata Partners. “The Bridge2 team has done a tremendous job bootstrapping the business and Updata is thrilled to support the next phase of growth.”