I Love Rewards Completes $4.7 Million Series A Financing Round Led by JLA Ventures

I Love Rewards Completes $4.7 Million Series A Financing Round Led by JLA
Ventures
- I Love Rewards secures an additional $1.5 million to complete its Series A
financing round, resulting in a total of $4.7 million raised.

TORONTO, July 31 /PRNewswire/ -- I Love Rewards Inc., a North American
web-based corporate rewards and recognition firm, today announced that it has
completed a $4.7 million Series A financing round led by JLA Ventures with
participation from Laurence Capital, senior management and other angel
investors.
In November of 2007, I Love Rewards secured financing to fund the
development of I Love Rewards Express, a software as a service rewards
platform that allows clients to build custom web-based incentive programs in
minutes.
Funds from today's additional $1.5 million will go towards financing the
next stage of I Love Rewards' aggressive expansion strategy, the launch of its
American brand ReThink Rewards.
"The marked increase in demand for corporate incentive programs in North
America coupled with our web-based Express platform and proven track record in
Canada will drive our push into the American market," said I Love Rewards
founder and CEO, Razor Suleman. "The launch of ReThink Rewards is the next
step in achieving our vision of becoming the global leader in web-based
rewards and recognition solutions."
"I Love Rewards is well on its way to becoming the premier rewards and
recognition program provider," said John Albright, Managing Partner, JLA
Ventures. "Their success in Canada is a good indication of what they are
capable of and we look forward to being a part of ReThink Rewards' exciting
future."
This announcement coincides with the addition of David Brennan, CA, as
Chief Financial Officer, I Love Rewards. Brennan has held senior management
positions with Coopers & Lybrand (now PricewaterhouseCoopers), AT&T Capital
(acquired by Newcourt Capital), Bank of Montreal, PixStream Incorporated
(acquired by Cisco Systems), Sirific Wireless (acquired by Icera Inc.) and
most recently as Chief Financial Officer at ALT Software Inc.
I Love Rewards (www.iloverewards.com) develops innovative web-based reward
solutions for small and medium-sized businesses and Fortune 1000 companies
including Bell Sympatico, Sage Software and Rogers Communications. I Love
Rewards is one of Canada's Top 100 Employers for 2007 and 2008 and ranked #12
on the PROFIT 100 list of Canada's Fastest-Growing Companies of 2007. CEO
Razor Suleman is the recipient of the 2007 Young Entrepreneur Award for
Ontario by The Business Development Bank of Canada (BDC).
About JLA Ventures
JLA Ventures is one of Canada's leading venture capital firms that invests
in growth companies that are focused on the Internet, digital media,
e-commerce, communications security, mobile computing, and enterprise software
companies.
SOURCE I Love Rewards Inc.

Christina Weber, +1-416-531-1531 ext. 299, christina.weber@iloverewards.com