Goody raises $500,000 to chase trans-Tasman loyalty market
Goody has raised a further $500,000 to accelerate its software-as-a-service product and explore offshore expansion. The round was strongly supported by existing shareholders like Alliance Equities and K1W1, as well as Goody staff members.
“The private share issue will enable Goody to scale its business now it has a true software-as-a- service offering not requiring hardware. We have secured some significant footholds in key sectors, and the capital raised will help us further promote merchant demand, grow rapidly and also focus on our technological development,” said Mr Gorran Marusich, CEO of Goody.
“Goody’s strength is that we help our retailers see their customers more often, and help them grow business through rewarding loyalty. We make it easy for businesses to understand and define who their customer is, regardless of the size of their business. Until now, companies would have to consider expensive and inflexible third-party programmes. We solve those marketing and loyalty problems at a fraction of the cost,” said Mr Marusich.
“Also, our SaaS platform has the ability to integrate closely with leading point of sale and marketing tools like Mailchimp, making it easy for companies to build a loyalty programme that works seamlessly on most platforms,” said Mr Marusich.
Goody shareholders have also appointed Aaron Bhatnagar of Alliance Equities Ltd, a NZ based venture capital investor, as their Chairman. The board is closely assessing international opportunities, with a view to future capital raises to fuel its growth.
Having previously raised $750,000 from shareholders in 2016, Goody has signed up more than 1,000 retailers and can be found at McCafé, AUT and the University of Otago. It has also recently secured an enterprise retailer, who is currently being implemented into the Goody network, with an anticipated launch in mid-late September.
To download the Goody App, visit the iTunes App Store or Google Play and search for “Goody”.
Goody was founded in 2014 by Gorran Marusich, and joined early in the business by Shane Bradley, the well known NZ based internet entrepreneur behind successful ventures like Neighbourly, pet.co.nz, Grabone and finda.co.nz .
Goody was formed to help merchants build loyalty and reward their customers with a suite of tools to communicate, receive feedback and analyse repeat customer information. Goody's software drives repeat purchases and increased transaction value for businesses, and our tools help improve customer service and remove complicated marketing processes. Consumers also get great, easy and fast rewards for their loyalty to a business.
Goody’s growth journey is supported by well known NZ based technology and venture capital investors like Alliance Equities (the Bhatnagar Family), K1W1 (The Tindall Family) and the Edgar Family. It also has a significant investment from SL Holdings Ltd, the investors behind the Smart Trade B2B loyalty scheme.