What: The digital loyalty technology company from Seattle has raised a USD 100 million Series B funding in order to build out their workforce and expand to new international markets over the coming months.

Why it is important: The start-up is working to help retailers drive foot traffic to brick-and-mortar stores by leveraging online relationships with shoppers.

Swiftly understands the needs of both consumers and retailers as they have centered their technology around the in-store purchase. Swiftly has found a common theme in the behaviour of consumers which is: shoppers tend to make substantially more trips to the grocery store if they receive online offers customized to their needs and timed to reach them when they are most likely to be ready to make a purchase.

Instead of trying to reinvent the wheel of grocery retail or switch to a complete online platform Swiftly understands that most grocery store purchases will still occur in-store. In order to increase the individuals coming in-store Swiftly is offering different services to suit different retailers' needs, some need assistance in the customized online offers while others need assistance in growing their online traction. They want to help retailers to closely tie their e-commerce and in-store experiences as they boost shopper loyalty and keep customers from venturing to competitors. In particular, the company recommends that grocers allow shoppers to use loyalty points they earn in-store for digital transactions, which can encourage them to direct their online purchases to the retailers whose stores they frequent.

Swiftly's Series B funding, which was led by Wormhole Capital, builds on USD 15.6 million seed funding the company raised in late 2019 and brings the total amount it has brought in from investors to USD 120 million. With this funding, they are looking to expand their employee base as well as considering expansion and want to open offices in potentially, Europe, Central America and South America.

Swiftly: helping brick-and-mortar stores cater to online customers