Newton, Massachusetts-based Paytronix Systems Inc, a provider of loyalty, rewards, gift, mobile applications and guest engagement analytics software, has secured $65 million in funding. The investor was Great Hill Partners.
Newton, MA—January 22, 2018—Paytronix Systems, Inc., an innovator in loyalty, rewards, gift, mobile applications, and guest engagement analytics software, has received a $65 million growth equity investment from Great Hill Partners, a leading Boston-based private equity firm focused on investments in high-growth mid-market companies. Founded in 2001 by Andrew Robbins and Matt d’Arbeloff, Paytronix has become the CXM industry leader, serving more than 330 customers and 16,000 store locations generating $18 billion in guest spend. Great Hill’s investment represents the first institutional capital in Paytronix, which has been a high-growth, profitable business for the past 10 years.
“Restaurant and convenience store operators are seeking more efficient and scalable ways to engage with their customers in real-time to increase foot traffic and sales,” said Nick Cayer, Partner, Great Hill Partners. “Paytronix is the clear market leader, providing its robust platform to brands such as Panera Bread, California Pizza Kitchen, Thorntons and Bloomin’ Brands. Great Hill’s investment model is to partner with strong founders and management teams of high growth companies. We are excited to work with Andrew Robbins and the entire Paytronix management team to help with the next stage of growth.”
“To fully execute the vision we’ve set for the company, we needed a financial partner that could quickly scale with us,” said Robbins, the president of Paytronix. “With its expertise in growing tech companies, Great Hill Partners fits our needs perfectly. I look forward to accelerating the development of our technology to redefine the guest experience and perpetuate our strategic advantage.”
Morse, Barnes-Brown & Pendleton acted as legal counsel for Paytronix, and Vista Point Advisors acted as its financial advisor. Kirkland & Ellis acted as legal counsel to Great Hill Partners.
About Paytronix Systems, Inc.
Based in Newton, Massachusetts, Paytronix is a provider of SaaS customer experience management solutions (loyalty, reward, gift, mobile applications and data insights) for restaurants and convenience store brands. Through its innovative software design and integrations with widely used point of sale systems, Paytronix empowers its clients with the greatest amount of flexibility to build unique, brand-enhancing programs. Customers benefit from big data consumer insights that Paytronix generates through 1-to-1 engagement with more than 165 million loyal guests—via mobile, social and today’s most innovative digital marketing tools. As a result, customers motivate their guests to increase spend and drive revenue.
For more information, visit www.paytronix.com.
About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm that has raised over $5 billion in commitments since inception to finance the acquisition, recapitalization, or expansion of growth companies in the internet infrastructure, digital media and marketing services, eCommerce and consumer, healthcare tech and services, financial technology, and software industries. Great Hill targets investments of $25 million to $200 million. For more information, visit www.greathillpartners.com.