Customer loyalty company
FiveStars Loyalty announced that its second office will be in Denver where it plans to hire more than 100 people -- primarily in sales -- by the end of 2015. The company develops customer loyalty programs for small and medium-sized businesses, among them Denver-based companies like Lodo's Bar & Grill, Stoney's, and GB Fish & Chips.
The news comes following an announcement that San Francisco-based FiveStars raised $26 million in Series financing. The financing round, led by Menlo Ventures, Lightspeed Venture Partners, and DCM, will help the company essentially double its staff to 300 employees as it strives to provide services to its more than 7,000 clients.
"We are thrilled that FiveStars has chosen Colorado to expand its operations and create new jobs in the high-tech industry," said Gov. John Hickenlooper. "Not only is FiveStars creating jobs here, they are also providing a platform for local businesses to develop customer loyalty programs that were once only accessible to large corporations, allowing small businesses to compete on a large business scale.
In Denver, the company has leased 10,000 square feet of office space at
Battery621. “We evaluated over a dozen cities and by the end it was a no-brainer -- no other city offered what Denver had,” said Victor Ho, CEO and Co-Founder of FiveStars. "We wanted to pick a location where employees would have an excellent quality of life and we're ecstatic that we found our second home in Colorado."
"The FiveStars announcement further demonstrates that Denver is quickly becoming the small business and startup capital of the country," said Denver Mayor Michael Hancock.
The company looked at locating in other cities, including Austin and Seattle, but ultimately chose Denver. In making its decision, the company sited state and city tax incentives offered to attract tech companies.
Contact Confluence Denver Innovation & Jobs News Editor Chris Meehan with tips and leads for future stories at chris@confluence-denver.com.
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