Blackbird Labs, a hospitality technology firm, has successfully raised $24 million in its Series A funding round, with a16z crypto spearheading the investment to fuel its expansion efforts.
Amex Ventures and Bolt by QED, along with Blackbird’s initial seed backers Shine, Union Square Ventures, and Variant, also participated in the funding round.
Restaurant chains like Quality Branded, Rustic Canyon Family, Souvla, and Brooks Reitz were also involved in the funding round.
Amex Ventures global head Matt Sueoka said, “Blackbird offers a compelling new platform with the potential to evolve how restaurants deliver on loyalty and supercharge the insights they need to thrive.
“We are thrilled to back Blackbird as they explore how to leverage web3 technology to positively transform the dining experience for consumers and the restaurant industry.”
Blackbird provides a highly customizable loyalty program platform, enabling restaurants to establish direct connections with their patrons and offer them rewards.
Furthermore, the platform aids restaurants in cultivating customer loyalty and generating additional sources of revenue.
Blackbird intends to utilize the fresh funding to broaden its services and enter new markets.
The company highlighted that its sophisticated platform enables restaurants to effortlessly gather valuable customer insights, including preferences and dislikes, and encourages repeat visits through incentives.
Patrons can establish their membership by inputting their phone number and then simply tapping their phone on a Blackbird NFC scanner upon entering a restaurant.
With each subsequent use, customers start levelling up to their regular status, which unlocks benefits and insider perks such as surprise off-menu items.
Blackbird also plans to use the new funding to launch new features such as $FLY Redemption, which allows consumers to use their collected $FLY points to “power up” and redeem perks at participating Blackbird restaurants.
The firm plans to unveil an all-new referral programme to enable diners to share a link with their friend to become members at a specific restaurant to gain access to exclusive offerings.
In a press statement, Blackbird said, “Diners will also be able to opt into global data sharing, where restaurants will gain visibility into their full dining history and any associated insights, in exchange for providing more $FLY on regular dining activity like tap-ins.”