How many total Loyalty Software companies are there?

As of May 2025, there are 2,593 active companies in Loyalty Software sector.

Which countries have the most Loyalty Software companies?

United States (1,101) has the highest number of Loyalty Software companies, followed by United Kingdom (304) and India (297).

How many Loyalty Software companies are funded?

As of May 2025, 799 companies in this sector have received funding.

Which country has attracted the most investment in Loyalty Software companies?

With $2.9B in total funding, United States has attracted the most investment among Loyalty Software companies.

Who are the top investors in Loyalty Software companies?

The top investors in Loyalty Software companies by number of investments are Techstars, 500 Global and Greycroft

How many unicorns has Loyalty Software sector produced?

Globally, there are 7 unicorns in Loyalty Software sector, to date.

Loyalty Software - 2025 Market & Investments Trends - Tracxn

There are 3.83K companies in the Loyalty Software sector across the world, with 799 funded companies having collectively raised $7.14B in venture capital money and private equity. Overall 310 of these are Series A+ funded and the sector has seen the creation of 7 Unicorns.

Loyalty Software sector has seen 165 acquisitions and 17 IPOs.

This sector includes companies offering software solutions which enable businesses to run and manage customer loyalty program.

Loyalty Software sector is also known as Loyalty Management Software or Loyalty Program Software.

Companies included in Loyalty Software sector

Companies providing standalone customer loyalty platforms, coalition loyalty programs, engagement based rewards, and enablers solutions like loyalty card aggregators, gamification engines, and rewards fulfilment solutions.

Companies excluded in Loyalty Software sector

Company-owned standalone loyalty programs, Employee loyalty solutions, B2B loyalty solutions, blockchain based loyalty solutions, and customer engagement solutions which do not reward customers.

Key Metrics

Total Companies

3.83K

Top Companies

Ibotta, Capillary Technologies & more

Total Funding

Funded Companies

Series A+ Companies

Series C+ Companies

Unicorns Created

IPOs

Acquisitions

165

Also known as

Loyalty Management Software or Loyalty Program Software

The market map of Loyalty Software gives a visual overview of the sector, showing key business models, their interactions in the value chain, and industry evolution. Trending business models in Loyalty Software sector are Reward Based Loyalty, Loyalty Management Platform and Payment Card Loyalty.

Here are some reports related to Loyalty Software sector:

Free

Loyalty Software - Sector Report

Edition: March, 2025 (73 Pages)

Premium

Loyalty Software Investor Landscape

Edition: April, 2025 (8 Pages)

Premium

Loyalty Software Exit Landscape

Edition: May, 2025 (15 Pages)

View all reports related to Loyalty Software. Sign up today!

There are more than 3.83K companies in Loyalty Software. Ibotta is the top Loyalty Software company globally, ranked using Tracxn Score (what's this?).

Here are 5 of the top Loyalty Software companies globally

Company	Description	Location	Founded	Current Stage	Private Funding Raised
Ibotta	Platform offering cashback on purchase of multi-category products	Denver (United States)	2012	Public	$97.6M
Capillary Technologies	AI powered loyalty management software for enterprises	Bengaluru (India)	2008	Series D	$239M
Tango Card	Digital gift card reward program	Seattle (United States)	2009	Acquired	$57M
Magicpin	Platform offering rewards to customers for visiting partner business	Gurugram (India)	2015	Series D	$104M
Paytronix	Provider of restaurant loyalty management solutions	Newton (United States)	2001	Acquired	$75M

Get a longer list of companies

Companies founded year-on-year in the Loyalty Software sector

1 new startup has been founded so far in 2025 in the Loyalty Software sector. 361 Loyalty Software startups were founded in 2019 - this is the most number of startups founded in any year in the last 10 years.

Total Number of Companies

Year	No of companies founded
2025	1
2024	30
2023	103
2022	133
2021	185
2020	312
2019	361
2018	353
2017	255
2016	290

Companies founded across countries in the Loyalty Software sector

United States has 1,101 Loyalty Software startups, the most by any country, followed by United Kingdom which has 304 startups and India which has 297.

Total Number of Companies

Country	No of companies founded
United States	1,101
United Kingdom	304
India	297
Canada	184
Australia	108
Brazil	97
Germany	86
Netherlands	79
France	74
Russia	68

Stage-wise distribution of the Loyalty Software sector

Out of the total 3,832 Loyalty Software companies, 799 have secured funding. Among them, 310 have reached Series A or higher, and 233 to Series B or beyond.

Stage

#Companies

Founded

3,832

Funded

799

Series A+

310

Series B+

233

Series C+

204

Company Stage	No. of companies
Founded	3,832
Funded	799
Series A+	310
Series B+	233
Series C+	204

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3.8K+ Total Companies
$7.14B+ Total Funding
795+ Funded Companies
15+ IPOs
160+ Acquisitions
5+ Reports

Total funding year-on-year in the Loyalty Software sector

The Loyalty Software sector saw a total funding of more than $4.84B in the last 10 years. The most amount of funding was in 2018 at more than $1.08B. There has been a total funding of $46.7M in 2025 till date.

Total Funding

Year	Total Funding
2025	$46.7M
2024	$580M
2023	$200M
2022	$969M
2021	$662M
2020	$333M
2019	$290M
2018	$1.08B
2017	$326M
2016	$362M

Total funding across countries in the Loyalty Software sector

In the last 10 years, Loyalty Software startups in United States have recieved the highest funding among all countries - $2.9B. Canada follows with $544M and India with $365M.

Total Funding

Country	Total Funding
United States	$2.9B
Canada	$544M
India	$365M
United Kingdom	$279M
China	$112M
Singapore	$94.3M
Mexico	$78.8M
France	$67.9M
United Arab Emirates	$47.5M
Germany	$42.4M

Total funding amount raised by stage in the Loyalty Software sector

Over the last 10 years, the Loyalty Software sector have seen $291M into Seed Stage funding rounds, $2.01B into Early Stage funding rounds and $1.55B go into Late Stage funding rounds.

Funding Stage	Total Funding
Early Stage	$2.01B
Late Stage	$1.55B
Debt	$711M
Seed Stage	$291M
PE	$88M
Post IPO	$34.1M
ICO	$10.9M
Grant	$1.28M

Recent Funding Rounds in Loyalty Software

In the year 2025, till March 2025, Loyalty Software companies have raised $46.7M in equity funding across 5 rounds. In the same period last year (i.e. till March 2024), Loyalty Software companies had raised $458M across 12 rounds. So, 2025 has seen a 89.8% drop in funding in Loyalty Software companies as compared to 2024.

Here are some recent, important funding rounds in Loyalty Software

Company	Round Raised	Amount Raised	Funding Date	Investors
Squid	Seed	€1.69M	Mar 25, 2025	-
Thanks	Seed	$2.6M	Mar 11, 2025	Peak XV Partners and 2 more
Merit Incentives	Series B	$28M	Feb 12, 2025	Stride Ventures and 3 more
Superlogic	Series A	$13.7M	Feb 06, 2025	Power Ledger and 12 more
PassPass	Seed	$550K	Jan 02, 2025	-

See a more detailed list of funding rounds

Techstars is the top investor in Loyalty Software companies based on number of companies invested.

Here are some top investors in Loyalty Software

Investor	Location	Top Portfolio Companies
Techstars	New York City (United States)	Ambassador, Kard, Flux and Giftbit
500 Global	Ho Chi Minh City (Vietnam)	Influitive, FlipGive, ChomCHOB and YesGraph
Greycroft	New York City (United States)	Fetch, Stakeholder Labs, Loyal Guru and Friendbuy
General Catalyst	San Francisco (United States)	Upside, Bilt Rewards, Alyce and BzzAgent
Norwest Venture Partners	Menlo Park (United States)	Capillary Technologies, Extole, Ebbo and Personali

See a more detailed list of investors

In the year 2025, till February 2025, 1 acquisition happened in Loyalty Software sector. Last year, in 2024, a total of 12 acquisitions happened in Loyalty Software sector.

Here are some recent, important acquisitions in Loyalty Software

Company	Acquisition Type	Acquisition Date	Acquirers
LUX Rewards	Business Acquisition	Feb 27, 2025	Enigmatic Smile
Social Seeder	Business Acquisition	Dec 31, 2024	Ambassify
Ackroo	Business Acquisition	Dec 12, 2024	Paystone
Paytronix	Business Acquisition	Nov 01, 2024	The Access Group
INTELIQUA	Business Acquisition	Oct 25, 2024	Entersoft

See a more detailed list of acquisitions

Acquisition trends in Loyalty Software

Here are the acquisition trends in Loyalty Software:

Total Number of Acquisitions

Year	Number of companies acquisition
2025	1
2024	12
2023	12
2022	12
2021	18
2020	12
2019	14
2018	18
2017	17
2016	16

In the year 2024, till September 2024, 2 IPOs happened in Loyalty Software sector.

Here are some recent, important IPOs in Loyalty Software

Company	IPO Date	Exchange Symbol
Pelatro	Sep 24, 2024	National Stock Exchange (NSE)
Ibotta	Apr 18, 2024	National Association of Securities Dealers Automated Quotations (NASDAQ)
My Rewards International	Nov 02, 2022	Australian Securities Exchange (ASX)
Society Pass	Nov 09, 2021	National Association of Securities Dealers Automated Quotations (NASDAQ)
Dotz	May 31, 2021	Brazil Stock Exchange (B3)

See a more detailed list of IPOs

Companies founded by alumni from top colleges in the Loyalty Software sector

Most number of Loyalty Software startups have been founded by alumni from Stanford University, Harvard University and University of California (Berkeley).

College	No of companies
Stanford University	24
Harvard University	16
University of California (Berkeley)	13
Cornell University	12
Harvard Business School	12
Massachusetts Institute of Technology	10
University of Pennsylvania	10
Wharton School	10
London School of Economics and Political Science	9
Carnegie Mellon University	8

Total funding in companies founded by alumni from top colleges in the the Loyalty Software sector

In the last 10 years, Wharton School graduates' Loyalty Software companies have raised the most funding among top colleges. Harvard University alumni are second, and University of Pennsylvania alumni are third.

College	Total Funding
Wharton School	$1.15B
Harvard University	$709M
University of Pennsylvania	$590M
University of Oxford	$574M
Harvard Business School	$499M
Stanford University	$310M
IIT Kharagpur	$242M
University of California (Los Angeles)	$196M
Technion Israel Institute Technology	$110M
IIM Ahmedabad	$107M