MONTREAL – KLF Media, a Canadian company specialized in the development and management of engagement and loyalty platforms, announced today that it has raised 1M $ in the first round of funding for Engentive, its newest employee reward software for small and medium-sized businesses.
Engentive, the most recent of KLF’s business platforms, provides an affordable, low-cost solution to small and medium-sized businesses looking to engage, reward, and retain their employees. Engentive offers its clients a customizable selection of over 4,000 high demand merchandise rewards from over 300 best-selling brands such as Apple, Samsung, Michael Kors, Weber, The North Face and many more.
Engentive’s personalization options allow its clients to use the platform as a one-stop-shop for any type of employee-based recognition programs, such as Years of Service, Spot Awards, and Milestone Awards.
KLF Media has managed to catch the attention of some of the most influential entrepreneurs in Canada, earning the company endorsements from a number of notable, Quebec-based investors.
Among them are Martin-Luc Archambault, CEO at AmpMe and current judge on the French version of the popular the TV Show “Dragons’ Den”, Etienne Veilleux, Senior Associate at Novacap, Mike Cegelski, Managing Partner at 500 Startups, Daniel Robichaux, CEO at PasswordBox, and Pierre Fleurent, Managing Partner at Rabaska Ventures.
According to Martin-Luc Archambault, “the rewards industry is experiencing a time of crucial change, and we all think that KLF is indeed a pioneer in this evolution. François is a visionary who managed to seize an opportunity within a market that, up until now, did not offer affordable solutions for smaller businesses. We are delighted to help him fulfil his dreams.”
“The funds will be used to help grow the sales force for Engentive, our SaaS rewards platform, and develop new functions following client feedback”, François Fortier, CEO, explains.
“The fact that we have managed to acquire such a large pool of clients over the past 12 months confirms that Engentive offers much-needed solutions to major workforce management issues for small and medium businesses. This injection of new capital will help us further expand client acquisition throughout Canada.” – François Fortier
98% of companies in Canada count less than 100 employees, of which only 60% practice employee recognition. However, due to cost and upkeep issues, only 14% actually offer rewards programs.
KLF Media is intent on increasing these numbers through web-based rewards technology, fulfilment, and logistics services. Their three business platforms (Loyalty Source, Warehouse&Go, and Engentive) offer end-to-end solutions, from web development to Direct-to-Consumer fulfilment solutions, all aiming to disrupt current industry standards for employee recognition and customer loyalty practices.