MOGL, a Solana-Beach, California-based provider of a platform that leverages game mechanics and human psychology to offer multiple incentives that motivate consumers to return again and again to member restaurant venues, today announced that it has raised $10m in its second round of funding.
The round, which brings the total amount raised by the company to date to $12.4m, was led by Sigma, with participation from Austin Ventures and Avalon Ventures.
MOGL intends to use the funding to hire new people (http://mogl.theresumator.com/apply), roll-out enhanced features and capabilities within its platform, and expand into new territories.
Founded in 2010 by Jon Carder, Jarrod Cuzens and Jeff Federman, the company operates a customer loyalty program that leverages psychology, technology and game mechanics to engage and reward consumers for their restaurant loyalty. Incentives include 10 percent cash back every time they eat out at participating restaurants, the ability to compete to become the 1st, 2nd or 3rd place customer at each venue and win a monthly jackpot cash prize, and automatically donate a meal to a person in need every time they spend $20.
Launched in April of 2011, MOGL is now live in San Diego, Orange County and Los Angeles, where it has secured more than 350 restaurant venue partners, and plans to expand into new target markets across the United States, including San Francisco and New York.
FinSMEs
01/02/2012