Andreessen Horowitz leads $24 million Series A round for web3 loyalty app Blackbird: report

Crypto venture firm Andreessen Horowitz led a $24 million Series A funding round for Blackbird Labs, the team building the web3 restaurant loyalty app Blackbird.

Additional participants in the round include QED, Union Square Ventures, Shine, Variant and various restaurant groups. The Series A fundraise brings Blackbird’s total funding to $35 million, which the firm intends to use to scale operations, TechCrunch reported.

Blackbird gives restaurants a way to bolster revenue by better creating repeat customers. The app tracks a customer’s preferences such as likes, dislikes and seating arrangements, in addition to tracking how often the customer comes in. Repeated check-ins “levels up” the customer and gives them access to certain perks.

Blackbird rewards

Blackbird also rewards customers with a cryptocurrency, which they can redeem for an entree, drink or other restaurant reward.

The firm partnered with the crypto wallet manager Privy to give its users access to their virtual balance. Privy raised $8 million in a seed round led by Sequoia and BlueYard Capital in April of 2022.

Source