Straylight Capital backs Patron Points with growth investment
Based in Woodbury, Minn., the company sells loyalty, mobile app, scan-data analytics and customer-engagement software to convenience retailers and consumer goods manufacturers.
Takeaways
- Patron Points is a provider of loyalty and customer engagement technology for convenience stores.
- Straylight Capital is acquiring Patron Points.
- The target serves convenience retail across North America.
Woodbury, Minn.-based Patron Points, a provider of loyalty and customer-engagement technology for convenience stores, received a growth investment led by Straylight Capital.
Terms were not disclosed; Scaleworks and Straylight co-investors also participated in the transaction.
Patron Points sells loyalty, mobile app development, scan-data analytics and formi™, its proprietary platform, to retail and consumer goods manufacturing customers.
The capital is earmarked for loyalty, promotions, mobile tools, AI-powered business intelligence, an enhanced customer portal and additional self-service tools across the company’s 49-state footprint.
"We are thrilled to welcome Straylight Capital as a strategic partner at this pivotal moment in our journey," said Erik Ogren, CEO of Patron Points.
Hennepin Partners served as exclusive financial advisor to Patron Points.
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