Badgeville Receives $12 Million in Fresh Capital

Menlo Park, California-based startup Badgeville announced that it has closed a $12 million Series B round of funding, led by Norwest Venture Partners and El Dorado Ventures. The additional capital will be used to ramp its business. Badgeville builds loyalty programs for media and e-commerce companies that use highly configurable, real-time social rewards and analytics. Badgeville customers often see more than 30% increases in key user-driven business objectives such as visits, retention and conversions. Badgeville has some 75 customers, including Discovery Communications DISCA, NBC, Bluefly.com BFLY, Samsung and Deloitte Digital. The company said the capital will be used to hire people in sales and marketing, customer service and product and engineering. Recent hires include social gaming, loyalty, and analytics experts from Zynga, Google GOOG and American Express AXP. The company said it expects revenues to hit $5 to 10 million this year. Other players in the space include BigDoor Media and Bunchball. Action Items: Bullish: Traders interested in initial public offerings might want to consider the following trades:

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