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Bridge2 Solutions Closes $35M Equity

2016-05-16
ATLANTA, GA, Pioneer of innovative technology solutions for the loyalty and rewards industry, announced today it has raised $35 million from Updata Partners.
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.'

About Bridge2 Solutions

Founded in 2006, Bridge2 Solutions offers the first global software-as-a-service ('SaaS') redemption platform for the loyalty and rewards industry. The company's platform directly connects loyalty and rewards program sponsors with the largest and most trusted retail, merchant, and travel brands, removing the need to purchase and store physical inventory. Bridge2 Solutions offers a best-in-class customer experience with millions of redemption options for travel, merchandise, gift cards, e-certs, digital products, event tickets and activities - all supported by an award-winning search engine. The combination of technology and content ensures participants can utilize points as ubiquitous tender for what they want, when they want it, and how they want to receive it. Bridge2 Solutions powers rewards platforms for four of the top ten North American financial institutions, two of the top three global financial technology companies, and the top global companies within the travel and hospitality and health and wellness industries. For more on Bridge2 Solutions, please visit http://www.bridge2solutions.com.

About Updata Partners

Updata Partners is a leading technology-focused growth equity firm with more than $650 million of capital under management. Updata invests in high-growth software, Internet, and technology-enabled service businesses with innovative intellectual property and market-leading solutions. Led by an investment team averaging more than 20 years of experience in the technology industry, Updata seeks investments where the combination of the firm's financial backing and the operating expertise of its partners will accelerate growth. For more information about Updata Partners, please visit http://www.updata.com.
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