Round includes $5 million round of venture debt from Western Technology Investment.
SAN FRANCISCO, According to the blog Evan Hugh, Bloomspot has secured $35 million fresh fund in Series B round of funding including $5 million round of venture debt from Western Technology Investment.
Featuring only the highest caliber restaurants, spas, boutiques, and other experiential merchants on its site, Bloomspot is looking to deliver only highly sought-after experiences to high-quality clientele, in a way to increase the breadth of the merchant's local profile while introducing it to a new and desirable audience.
Bloomspot core business will not centered on "group deals" but to only focus on offers from high-quality merchants who are looking to connect with their best customers, that said, to connect certain vendors with loyal consumers.
"It's a recognition system. In a way, it's less about discounts and savings, and more about recognition and status," - Malcomson, Bloomspot's CEO and co-founder.
Bloomspot gets permission from users and vendors to analyze the credit card data used on merchant. Bloomspot uses credit card data to predict how much a customer is going to spend based on the offer.
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