Truaxis
Founded Year
2007Stage
Acquired | AcquiredTotal Raised
$9MAbout Truaxis
Truaxis, formerly BillShrink, works with financial institutions and merchants to deliver a data-driven personalized services platform. Truaxis' StatementRewards platform leverages analytics and matching capabilities to deliver a broad spectrum of data-driven services, including in-statement loyalty rewards that transform the relationships between banks and merchants, help better serve customers and build brand loyalty. StatementRewards uses secure matching technology and anonymous user transaction data to pair users with personalized merchant offers and recommendations, as well as powering other rich features like a unified loyalty card, social benchmarking spend comparisons, and mobile and social rewards. In September 2012, Truaxis was acquired by MasterCard. The valuation of Truaxis was undisclosed. Other terms of the deal were not released.
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Expert Collections containing Truaxis
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Truaxis is included in 1 Expert Collection, including Fintech.
Fintech
8,086 items
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Truaxis Patents
Truaxis has filed 19 patents.
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
7/11/2011 | 3/17/2020 | Comparison shopping websites, Social networking services, Payment systems, Financial markets, Banking technology | Grant |
Application Date | 7/11/2011 |
|---|---|
Grant Date | 3/17/2020 |
Title | |
Related Topics | Comparison shopping websites, Social networking services, Payment systems, Financial markets, Banking technology |
Status | Grant |
Latest Truaxis News
Mar 22, 2018
MasterCard has acquired acquisition of Truaxis (formerly BillShrink). Financial terms were not disclosed. The company had raised $9 million in funding from Trinity Ventures and Bessemer. BillShrink originally launched as a cost-cutting engine for consumers. The startup helps users save money across verticals including cell phones, credit cards, cable bills and savings accounts. The startup pivoted into the personalized offers and loyalty rewards space, renaming itself Truaxis (but still retaining the cost-cutting consumer focused service). Truaxis allows merchants to target offers to pre-selected consumer profiles. Basically, the startup uses use transaction data sets to enhance relationships between financial institutions, businesses, merchants and their customers.Called StatementRewards, Truaxis allows fr personalized services off of bank customers’ transaction information — securely, and without the use of personally identifiable information. The service will identify relevant rewards and value added services from an individual’s favorite merchants. For bank customers, StatementRewards aims to take the guesswork out of traditional loyalty programs. The company offers geo-location features, monthly bill analysis, merchant-level spend summaries, social benchmarking and other personalization services. BillShrink itself has helped 1.6 million Americans find potential savings of more than $1 billion. As MasterCard says in a release: The integration of the Truaxis platform with the MasterCard network will allow for real-time offer delivery coupled with advanced analytics to ensure consumers get more meaningful offers, merchants gain efficiencies in driving sales and financial institutions build greater loyalty with customers. “The offer and rewards industry is rapidly evolving as consumers have demonstrated their desire for customized offers and savings that truly matter to their individual lifestyles,” said Tim Murphy, chief product officer, MasterCard. “By adding Truaxis’ expertise, its intellectual property and a talented team of software engineers to MasterCard, we increase our capabilities to offer merchants and financial institutions a solution that helps them better connect with consumers while evolving the model from the traditional coupon or daily deals offers programs that are popular today.”
Truaxis Frequently Asked Questions (FAQ)
When was Truaxis founded?
Truaxis was founded in 2007.
Where is Truaxis's headquarters?
Truaxis's headquarters is located at 601 Marshall Street, Redwood City.
What is Truaxis's latest funding round?
Truaxis's latest funding round is Acquired.
How much did Truaxis raise?
Truaxis raised a total of $9M.
Who are the investors of Truaxis?
Investors of Truaxis include Mastercard, Bessemer Venture Partners, Trinity Ventures and Coffin Capital & Ventures.
Who are Truaxis's competitors?
Competitors of Truaxis include Switchfly and 8 more.
- Predict emerging trends
- See competitors' playbooks
- Stalk the smart money
- Identify tomorrow's challengers
- Spot growing industries
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Compare Truaxis to Competitors
Loyaltyworks is a Business Products & Services/Advertising, Marketing & PR company based in Atlanta, Georgia. Loyaltyworks' investors include Capital Resource Partners and Equity-South Advisors.
Switchfly is a global software-as-a-service provider that helps travel companies, loyalty programs, and financial services institutions engage with customers. The Switchfly product suite includes white label travel commerce and loyalty redemption platforms, a loyalty payments engine for digital wallets, social network engagement products through Topguest, mobile solutions for travel and loyalty partners, and personalized marketing solutions.
Affinity Solutions is a provider in card-linked offers and transaction-enabled marketing. Affinity Solutions leverages analytics, applied to a range of customer data in a privacy-controlled environment, to deliver the right offer to the right consumer at the right time and through the right channel, for its bank and retailer partners. Affinity Solutions has partnerships with national and regional banks, as well as brick-and-mortar retail partners. Its programs incorporate experiential benefits that delight and entertain customers before, during and after they shop, to drive deeper customer relationships for partners.
cxLoyalty Group is a loyalty and customer engagement solutions company servicing 70 million consumers with approximately 3000 client & marketing partner relationships and over 40 years of experience. The company designs, administers and fulfills loyalty and customer engagement programs that strengthen and expand the value of relationships for brands around the globe, including many of the largest and most respected companies in the financial services, retail, travel, and telecom industries.
LifeMiles is currently the operator of the LifeMiles loyalty program. Avianca Holdings affiliated airlines as well as banks and retailers operate as commercial partners of the program. LifeMiles is one of the largest and fastest-growing loyalty programs in Latin America, with more than 6 million members and leading market positions in Colombia, Peru and Central America.
Online Rewards assists businesses with incentive and loyalty marketing programs.
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