BOSTON, MA — (October 13, 2011) – On the heels of an $8.3 million round of funding, the leader in linkable offers technology today announced a financial investment from Citi Ventures alongside a company name change from CLOVR Media to Linkable Networks, Inc., effective immediately. The investment from Citi Ventures, a unit of the global financial services company Citigroup, further validates the viability of its linkable offer platform (known as “Linkables”) that enables consumers to link store level and item level offers directly to their credit or debit card of choice.

“Creating value for consumers is at the heart of our innovation and venturing efforts,” said Chris Kay, Managing Director and Head of Ventures, Citi Ventures. “One of the ways we do that is by investing in emerging technology providers like Linkable Networks who are providing leading solutions connecting on-line and off-line commerce.”

Linkables create a seamless savings experience by allowing consumers to link retail offers they see in banner, text, video, mobile, TV and print ads directly to their credit or debit cards, automatically receiving the advertised savings posted back to that card. Currently in beta, the platform supports over 95% of all credit and debit cards in the United States. Linkables will be commercially launched this fall with major banks and media partners.

Funds from the Citi Ventures investment will bolster Linkable Networks’ cross media implementation and help meet the demand from advertising networks to provide Linkables to their advertisers. Additionally, the funds will further accelerate growth and infrastructure build-out. The amount of the Citi Ventures investment is not being disclosed.

“We are very pleased to have Citi join the Linkable Network team of investors, and it’s incredibly validating to have the financial support of such a respected leader,” said Tom Burgess, CEO of Linkable Networks. “Linkables are a disruptive force in the way that consumers interact with online and traditional media, and more so in the way that marketers build brand loyalty and advertising campaigns. The new name Linkable Networks reflects the continued momentum both our company and the entire space are experiencing.”

Linkables have the potential to shake up the marketing mix and usher in the next generation of interactive advertising functionality. Consumers will see Linkables across a variety of online, TV, print and outdoor media properties. Clicking a web ad or scanning/typing a code on a smartphone for ads presented in print, TV, outdoor or radio links the offer directly to the consumers credit or debit card. Offer redemption is seamlessly tracked through the consumer’s credit or debit card, and for the first time, brands and retailers have the unique ability to target offers at the SKU level and pinpoint specific inventory they want to move.