CRM and Digital Marketing Platform Thanx Receives Strategic Investment from RHI Group, M33 Growth, and Ribbit Capital
Thanx, a leading provider of digital guest engagement and retention tools for restaurants, retailers, and malls, announced today that RHI Group, a retail marketing technology firm, has made a strategic investment in the company. RHI Group is financed by M33 Growth and Ribbit Capital.
“The team at Thanx has built an amazing technology foundation for effortlessly capturing and activating offline retail data at scale”
“The RHI team and this group of investors could not be a more perfect fit for the Thanx vision; we’re thrilled to have them as partners,” said Zach Goldstein, Founder and CEO of Thanx. “Brick-and-mortar commerce in the US alone is a multi-trillion dollar category but most businesses still severely lack the data and tools to deliver personalized, closed-loop marketing. Thanx is on a mission with RHI Group to make this far more accessible. There are few people globally who have RHI’s track-record of building data-driven retail technology solutions at massive scale.”
Thanx is a leading player in restaurant marketing technology, having been named to the Nation’s Restaurant News “2020 Power List” as one of the 50 most influential innovators in food-service. Beyond restaurants, Thanx partners with regional and national retailers, malls and services businesses, including Tommy Bahama, Westfield and Zips Car Wash. Over the last two years, the number of consumers engaged by the Thanx platform on behalf of merchants has grown 600%.
“The team at Thanx has built an amazing technology foundation for effortlessly capturing and activating offline retail data at scale,” said Alex Moorhead, Executive Chairman, RHI Group. “That’s the type of mission that excites us and it’s no surprise that their customers love them. With this investment, we’re excited to help their phenomenal leadership team continue to delight customers and expand to other categories where we see a severe need for both the current platform and more exciting future applications of their card-linked technology.”
While many restaurants and retailers have struggled amid the current pandemic, digital purchasing and data-driven personalization have become critical to their future success. As a result, Thanx has experienced accelerating quarter-over-quarter growth through 2020 and will use the new capital to invest in engineering and account management hiring across North America. With this investment, Thanx expects to achieve profitability without requiring additional capital in the future.
RHI Group principals previously founded and grew global loyalty coalitions Air Miles and Nectar as well as marketing data platform Datalogix.