Brisbane based marketing tech company Norbit, has closed a $400,000 deal, with high profile investors, McVay Real Estate’s Sam McVay and Premium Funding’s Hayward Family. The financing will be used to fuel the expansion of their customer loyalty programs across Australia and abroad, growing their market reach and improving internal operations.
Norbit Founder, Gerry Mezzina launched the platform in 2015, capitalising on the growing need for authentic customer loyalty. In looking at loyalty from a customer experience perspective and unlike many other programs in the market, Norbit enables retailers to attract, engage, reward and retain their customers from within one system.
Director of Premium Funding, Ross Hayward, is excited to be working with the team at Norbit and has a strong belief in their product and future success.
“I’ve worked closely with Gerry over the past few years and have been following their progress. When Gerry mentioned to me he was looking to raise funds to ramp up expansion - It was a no brainer,” Mr Hayward said.
“The product has been selling itself and to date there hasn’t been a proposal to a customer that has been rejected. To me this sales strike speaks volumes about the product and the team behind it.”
The business is drawing on consumers growing interest in reward programs, with Australian consumers eighty per cent more likely to buy from a company whose program they are a member of, making it no surprise the success Norbit has gathered within their first two years of operation.
The app is currently used in eight Queensland Shopping Centres including Capalaba Park Shopping Centre where Norbit’s app Park Points was awarded a Judges Commendation for Excellence in Marketing at The Property Council of Australia (Qld) Awards.
A further three centres are set to launch in the coming months with Norbit providing a mobile-first strategy in one simple to use, yet sophisticated platform. It enables brands to interact directly with their customers taking into account location and context, including built in Augmented Reality functionality that delights users.
Founder of Norbit, Gerry Mezzina is thrilled to be able to expand his product and business model taking Norbit to the next level.
“We’re really lucky to have a great relationship with early Norbit customers, who have been open to rolling out the technology in its early stages and working with us to improve product market fit.” Mr Mezzina said.
“The investment and our new partnership will enable us to quickly scale our team, bringing forward a range of new features for existing customers and expand our market reach.
“Finding investors who believe in us, who value our approach to business and who bring so much more than just a capital injection validates what our team has been working so hard for and we’re excited for the next phase.”
With proven success working with Queensland Rugby League for the inaugural Maroon Festival, where they developed the festival app and brought Rugby League legends to life using augmented reality, Norbit’s ability to take on a multitude of industries speaks to the breadth of the product.
Understanding the importance of providing information that is relevant and contextual, Norbit empowers retailers and brands to interact with their customers throughout the buying cycle, and the data captured provides powerful insights into shopping behaviours.
Norbit is currently in negotiations with several other Australian and global retailers who are re-establishing their loyalty programs and creating their own customised AR campaigns.
For more information, please visit: http://norbit.com.au/