Punchcard Raises $1M

Pasadena-based Punchcard, the newly launched startup developing mobile, loyalty programs for retailers, said this morning that it has raised $1M from Idealab. Punchcard, which is headed by Andy Steuer, offers up iPhone and Android apps which reward users for visiting local businesses. The firm has initially launched in Southern California, saying it is providing local visitors with rewards for visiting more than 147,000 local businesses in the region. Punchcard's app allows users to take photos of receipts for visits to their favorite retailers, and allows users to receive free meals, cash back, gift cards, and other items for repeat visits. Steuer is a repeat entrepreneur, having founded MerchEngines, and was involved at MusicNet, CNET, Infoseek,, and ZeroDegrees. More information »