Bilt acquired sports loyalty technology company LAVA in a US$300 million deal. Bilt runs a neighborhood commerce and rewards platform. LAVA provides real-time loyalty and customer experience software for sports and entertainment businesses.
What the deal brings
The acquisition adds relationships with 56 professional sports franchises. They span the NFL, NBA, MLB, NHL, and MLS. LAVA also brings more than 300 technology adapters across ticketing, payments, and point-of-sale systems.
Network scale
Bilt launched in 2021. Its network includes more than 7 million members and 50,000 merchant partners. LAVA serves more than 50 sports, entertainment, retail, and development businesses.
What the technology does
LAVA's platform recognizes customers and delivers personalized benefits in real time. It connects existing business systems rather than replacing them. Bilt plans to combine its AI agents with LAVA's Realtime AI technology.
Bilt will integrate LAVA's technology and team over time. The addition is intended to strengthen its AI and real-time data layer. It plans to share more about its expanded membership vision soon.