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Affinity Solutions Makes Friends with $21M

2013-06-10
NEW YORK, NY, Leader in transaction-enabled marketing programs and card-linked offers in the U.S., announced today it has completed a $21 million+ round of funding led by Chestnut Hill Ventures.
Affinity Solutions, Inc., the leader in transaction-enabled marketing programs and card-linked offers in the U.S., announced today it has completed a $21 million+ round of funding led by Chestnut Hill Ventures, a Wellesley, Mass.-based private equity firm focused on consumer marketing and financial services companies.

This capital will enable Affinity Solutions to rapidly bring to market the next generation of its marketing platform designed to help brick-and-mortar and online retailers acquire new customers and maximize the value of existing customers, across a variety of marketing environments. Several national retailers from Affinity's large merchant network, as well as retailer marketing agencies, have contributed to these new innovations, which have been built on Affinity's proprietary data analytic technologies and real-time redemption solutions.

In addition, Affinity has also established a fund to acquire companies that complement Affinity's offerings in the transaction-enabled marketing and card-linked offers space. The growth of Affinity Solutions both organically through product innovation and by strategic acquisitions will accelerate Affinity's leadership position and growth.

"This additional cash infusion from Chestnut Hill Ventures comes at a key time in our growth as our retail and bank partners look to Affinity for innovative technologies that drive value for our retail and bank partners and engage customers," said Jonathan Silver, president and chief executive officer of Affinity Solutions."

"With our continued financial support, and through the talent and dedication of its senior management team, Affinity Solutions has generated significant traction in the domain it pioneered," said John Berylson, chairman and chief executive officer of Chestnut Hill Ventures. "As these markets continue to evolve, it's imperative for the company to remain on the cutting edge of solutions that benefit both retailers and consumers alike. This strategic investment will enable Affinity to bring exciting new offerings to market that address distinct needs."

About Affinity Solutions

Affinity Solutions is the industry leader in card-linked offers and transaction-enabled marketing. Affinity Solutions leverages proprietary analytics, applied to a range of customer data in a privacy-controlled environment, to deliver the right offer to the right consumer at the right time, for its bank and retailer partners. Affinity Solutions has partnerships with nearly 4,000 national and regional banks, as well as over 25,000 brick-and-mortar retail partners. Its innovative programs incorporate experiential benefits that designed to drive deeper customer relationships for its partners. For more information, please visit www.affinitysolutions.com, or follow the company on Twitter at @AffinitySolutns.

About Chestnut Hill Ventures

Founded in 2002 as a successor to GCC Investments, Chestnut Hill Ventures pursues private equity investments in a variety of industries and geographic markets, including consumer products, business services, financial services, media and entertainment, and telecommunications. Current and past investments have included FleetCor Technologies, Millwall Football & Athletic Company, Vision Express, GrandOptical Photo Service, PrimaCom, Vanguard Modular Building Systems, and Global Telesystems Group, among many others. Chestnut Hill Ventures' team leverages its wealth of operating expertise and insight to create long-term value at each of its portfolio companies and generate attractive returns for its investors.
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