iLoveRewards closes $4.7million Series A

Here is a company worth talking about.

iLoveRewards took a big problem and found a quirky and economical solution to it. This is the kind of company had me gushing 10 seconds in to the pitch. I’m sure that John Albright and company saw it from a mile away.

ILoveRewards is sort of like one of those midway games that pumps out tickets every time you get the ball in the middle hole.

In the case of iLoveRewards, employees of a company can earn points for things like good attendance, hitting sales targets or customer satisfaction. As these points build up, the employee can redeem them through iLoveRewards.

Todays announcement is that JLA is contributing an additional $1.5 million to the round which will be used to create a US-focused brand for the service as well as to finance more sales and marketing initiatives.

iLoveRewards competes with more established companies such as another favorite of mine, SuccessFactors, and I have no doubt that the competition will be moving to copy some of the novel things that iLoveRewards has been doing.