# Touchworks

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/touchworks

- Industry: Marketing/Advertising
- Headquarters: Seoul, South Korea
- Website: www.mytouching.com
- Total disclosed funding: $1.9M
- Latest round: Series B (Dec 3, 2015)
- Investors on record: 1

## About

Touchworks is an innovative technology firm that specializes in customer loyalty solutions, integrating rewards programs that enhance engagement between consumers and retailers.Touchworks, headquartered in Seoul, South Korea, focuses on developing customer loyalty programs. The company was founded by Lukas Fof, who has a background in technology ventures. Touchworks has successfully raised a total of KRW 3000.000 mn in funding, with its most recent investment round occurring on June 7, 2017. The funding was secured from notable investors including HB Investment, Korea Development Bank, and Shinhan Capital.Touchworks specializes in a user-friendly rewards program designed to enhance customer loyalty through easy accumulation of points. The core offering allows end-users to earn rewards by engaging with participating retailers and service providers, effectively bridging the gap between consumer behavior and loyalty incentives. The company targets a diverse customer base, including both individual consumers looking to maximize their spending power and businesses aiming to foster customer retention through loyalty incentives. The service is actively marketed in various geographical regions, particularly in urban areas where retail competition is high, ensuring a relevant and accessible platform for both consumers and businesses. By facilitating a seamless experience where points can be redeemed at multiple locations, Touchworks positions itself as a pivotal player in the loyalty rewards sector.The company's revenue model is structured around partnerships with retailers and service providers, who participate in the rewards program to attract and retain customers. Transactions typically involve businesses integrating Touchworks' loyalty system into their operations, allowing customers to earn and redeem points directly through their purchases. While specific pricing structures for partnerships may vary, they generally encompass subscription fees or revenue-sharing agreements, ensuring a mutually beneficial arrangement for both parties. By focusing on flagship offerings that enhance customer engagement, Touchworks positions itself to generate revenue from both individual consumers and corporate partners, thereby creating a robust ecosystem that supports ongoing growth and sustainability.In June 2017, Touchworks raised KRW 3000.000 mn in venture financing to support its growth initiatives. The company plans to launch new product enhancements to its loyalty program by the end of 2024, aiming to attract additional users through innovative features. Furthermore, Touchworks is targeting expansion into Southeast Asian markets, specifically aiming to establish a presence in Singapore and Malaysia by early 2025. The recent funding will primarily be utilized to develop these new offerings and facilitate market entry strategies.

## Funding rounds

- Series B, Dec 3, 2015, $1.9M — Midas Donga Investment

## Investors

- Midas Donga Investment (https://capitalatlas.ai/funds/midas-donga-investment) — Series B