Eatsa rebrands as Brightloom, raises $30M in new funding
Starbucks and Brightloom, formerly Eatsa, both announced a new partnership in which the rebranded technology company will license Starbucks technology as the coffee giant takes an equity stake. Brightloom will be building a comprehensive and integrated technology solution for the restaurant industry. The workings of the technology are based on Starbucks’ digital flywheel, a comprehensive marketing and management solution meant to engage and offer mobile & loyalty to customers.
At the same time, Brightloom has rebranded and raised $30M in new funding led by Tao Capital Partners ad Valor Equity, in addition to Alshaya Group and Alsea, both Starbucks licensees. Under the agreement with Starbucks, Brightloom will develop its technology for Starbucks license partners globally. The integrated technology will be spotlighted at Brightloom’s Roadmap Reveal Day in October.
The Brightloom-Starbucks technology partnership makes this all possible. Starbucks will also gain a seat on Brightloom’s Board of Directors.
Starbucks-Brightloom digital partnership spurs industry-wide ordering, marketing solution
Starbucks has been building and investing in its digital flywheel, meant to engage customers through the purchasing journey. Initially a strategy, it was then integrated into the technology it developed. It doubled down on its commerce platform in 2017, notes ZDNet. The Starbucks digital flywheel underpins the facets of customer engagement for the coffeehouse chain. Over time, it was calibrated to acquire customers, and also incent them into purchases. Incentives included “spend-based rewards, and personalized & convenient ordering.”
“We believe any restaurant brand should be able to engage customers digitally using a seamless combination of mobile, omni-channel ordering and loyalty offerings,” said Adam Brotman, chief executive of Brightloom. “Up until now, only a select few brands could afford, or knew how to put together a truly seamless mobile ordering, loyalty and topnotch digital platform.” He joined the company in April as Brightloom turned a new chapter.
The Starbucks digital flywheel approach follows a common marketing strategy under the same name. Also, Starbucks has a long history of data that suggests its platform has been greatly successful. Seattle-based Starbucks’ technology will now make the Brightloom solution comprehensive.
Brightloom makes it clear that it’s developing an industry-wide product for restaurants. The platform is intended to simplify the entire guest journey, “from the time of order and payment, through the kitchen, all the way to pick-up, and even after the in-store experience with digital rewards and offers,” said the announcement. “…a one-stop-shop for restaurant brands.”
Brightloom’s platform will be an end-to-end solution, meant to replace previous patchwork of services for ordering, customer engagement and marketing within the restaurant industry. With both software and hardware tools, Brightloom will go beyond servicing the myriad of marketing functions, which include mobile, payment, order management, loyalty, personalization and customer relationship management.
Coffee giant puts weight, technology behind Brightloom
Through its own platform build-out and the Starbucks-Brightloom technology partnership, Brightloom will also be offering mobile payment and digital ordering, competing against other companies in that space, as well.
Added Brotman, ““The food service and restaurant industry is in the middle of a seismic shift – it’s no longer just optional to have a front-footed strategy when it comes to mobile ordering, delivery platforms, loyalty and personalized digital engagement. We are excited to partner with restaurant operators, big and small, to bring that strategy to life.”
Said Kevin Johnson, Starbucks chief executive, “At Starbucks, we have experienced first-hand the power that comes through digital customer connections that are relevant to the customer. The results we’ve seen in customer loyalty and frequency within our digital ecosystem speak for themselves, and we’re excited to apply these innovations toward an industry solution that elevates the customer experience across the restaurant industry.”
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