PunchTab Raises $850K

Wade Roush6/2/11

PunchTab, a Silicon Valley startup offering an “instant loyalty program” allowing Web businesses to set up point systems that reward frequent customers, said yesterday that it had collected $850,000 in seed funding. The money came from Mohr Davidow Ventures, Embarcadero Ventures, and individual investors Venky Harinarayan, Anand Rajaraman, and Nick Sturiale. PunchTab was founded in January by YouSendIt founder Ranjith Kumaran and JellyDo founder Mehdi Ait Oufkir.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can subscribe to his Google Group or e-mail him at wroush@xconomy.com. Follow @