Blackbird Labs Secures $24 Million in Funding for Blockchain-backed Loyalty Platform
Blackbird Labs, a technology startup founded by Ben Leventhal, is making waves in the restaurant business arena with its groundbreaking blockchain-backed loyalty platform. Recently, the company announced that it has successfully raised $24 million in its series A funding round, led by a16z, with participation from Amex Ventures and Bolt QED.
The innovative platform developed by Blackbird Labs allows customers to register for free at participating restaurants and earn redeemable points customized for restaurant-specific benefits. Additionally, customers can also accumulate $FLY, the digital token unique to Blackbird, that unlocks exclusive rewards such as access to special events, off-menu items, discounts for friends and family, and priority seating within the culinary world.
While Blackbird Labs aims to cater to the interests of its customers, the platform also focuses on benefiting restaurant operators. While customers can use the platform without any charges, operators are required to pay a software fee based on their utilization patterns. The pricing structure is flexible and adjusts based on the operators’ level of engagement. The software provides operators with valuable insights into their customers’ habits, including visit frequency, preferences, and seating preferences. This data enables operators to personalize the dining experience for their loyal clientele.
Blackbird Labs has already integrated 80 restaurants into its ecosystem, with 22 currently operational on the platform. These restaurants range from independent casual eateries to fine-dining establishments in popular cities such as New York, Los Angeles, and Charleston.
The platform offers exclusive perks to patrons, including complimentary fountain sodas for first-time check-ins at select restaurants and complimentary ice cream toppings for every fifth check-in. Additionally, customers can enjoy free drinks and appetizers at other participating establishments.
With the recent funding injection, Blackbird Labs plans to expand its operations strategically, aiming to onboard more restaurants across the United States. The company has long-term aspirations to establish a global presence but is currently focused on major metropolitan markets like New York, Los Angeles, San Francisco, and Chicago.
Blackbird Labs aims to revolutionize the relationship between restaurants and their valued customers by leveraging blockchain technology and innovative digital loyalty programs. By providing restaurants with the tools to identify and nurture their most loyal patrons, the company is driving the industry towards a more sustainable and prosperous future. This endeavor aims to enhance the dining experience for both operators and customers, merging loyalty, innovation, and excellence in the culinary world.