Applied Group raises SEK 3M for a a cloud-based customer loyalty program for e-retailers.

Applied Group Nordic, a Sundsvall, Sweden-based startup working on a social loyalty platform, announced closing a SEK 3M ($370k) investment round.

The backers include Almi Invest (which contributed with SEK 1.6M), Sparbanksstiftelsen, Mid Sweden University and Norrlands Riskkapitalstiftelse and the money will be used for development and marketing prior to the launch of the company's service by the end of 2017.

Applied Group Nordic, founded in 2016 by Julia Wikström, Johan Wikström (CEO) and Thomas Jonasson, developed Pinguin, a social loyalty platform which monitors and combines data about consumer behavior on social media and ecommerce websites. The system collects data about customers' interests and purchasing habits, in order to offer benefits and discounts specifically tailored for each individual customer.

Prior to this investment round, Applied Group Nordic raised outside funding from investors including Marcus Nilsson and Niclas Enhörning.