Other investors who participated in the round were Peter Thiel of Founders Fund, Eric Schmidt of Innovation Endeavors, and Jerry Yang.
PLDT Capital co-managing director Winston Damarillo told DEALSTREETASIA they invested $5 million in the round.
The round marked the launch of AppCard’s redesigned website and iOS and Android mobile apps, as well as the joining of Alexander Rittweger to its board. He is the founder of PLDT Capital and Loyalty Partner, a global customer management solutions company.
“I’m convinced that AppCard’s advanced technology will help us build a performance-marketing platform unrivalled in the small and medium-sized business marketplace,” Rittweger said. “I’m excited to marry my global loyalty experience with this team’s exceptional digital experience.”
Rittweger was also the founder of PAYBACK, the world’s largest coalition loyalty platform with over 70 million active members in Germany, Italy, India, Mexico and Poland, which he sold to American Express.
AppCard empowers retailers, mostly small and medium-sized enterprises, to market directly to their customers in a personalized way. The technology combines item-level smart data capture with artificial intelligence to automate marketing.
Damarrillo said the AppCard platform caught PLDT Capital’s attention because of its advanced technology and creative business model.
“The leadership is a dream team, consisting of successful tech and loyalty entrepreneurs. We’re excited to bring the benefits of AppCard to the PLDT Group, as well as to consumers and merchants in the Philippines and the Southeast Asian region,” Damarillo said.
AppCard reported that after developing and optimizing their product to cater to specific retail verticals, it released its latest version in the second half of 2015 and generated explosive growth. The new funding is intended to fuel that and further develop the technology.
Founded in 2011, AppCard previously raised $6.5m in Series A in 2012.
“We’re fortunate to be able to add strategic investors with deep loyalty and marketing experience,” said AppCard co-founder and chief executive Yair Goldfinger.
Goldfinger was the co-founder of ICQ, an instant messaging pioneer acquired by AOL, and Dotomi, a personalized online-advertising platform acquired by ValueClick.