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eYantra Acquires Rewards Program Company Privilege Corner

eYantra, a corporate gifting and brand merchandising company, which also owns a consumer business portal Foostor.com and corporate gifting solutions portal logoprint.in, has acquired Privilege Corner, a corporate rewards & recognition company for an undisclosed amount. According to a statement from the company, Privilege Corner will retain its brand name and entity. eYantra would benefit in terms of augmenting its solution for corporate clients, since Privilege Corner offers a program for employee benefit and will get access to its International alliances.

The acquisition follows eYantra’s buy out of a stake in IGC Global Promotions NV for an undisclosed amount, which was reportedly intended for sourcing from International inventory for Indian clients.

Privilege Corner was co-founded by Anshul Gupta, Nitin Mathur (cofounder HealthPA), Harsh Azad (co-founder Via.com) and Umang Maheshwari in Jun 2010. It had received a seed fund of $200,000 from private investors in December 2010. The company develops and manages employee benefit programs via intranet based IT Platforms.

Last year, Eyantra had raised $7.8 million in series B funding led by US based PE Argonaut Private Equity. Other investors include Times Private Treaties and Ventureast.

eYantra also had a stake in Loylty Rewards. The company’s  founder Phani N, had earlier informed MediaNama that the company had exited Loylty Rewardz “at more than 2.5X in less than 2 years of investment.”

The company claims to have more than 1000 companies on its client list across 42 countries, including HCL, Microsoft, Dell, Honeywell, Nestle, HLL, HUL, Mahindra Satyam, and Dr Reddy’s.

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