What Mobivity does

Mobivity Holdings Corp. (OTCQB: MFON) is a publicly-traded customer engagement technology company headquartered in Chandler, Arizona, with a secondary office in Halifax, Nova Scotia. The company serves restaurants, convenience stores, fuel retailers, and national retail brands through two core technology platforms: Connected Rewards, which connects brand offers to consumers playing mobile games to drive in-store traffic and redemptions, and re·currency, a POS-based customer engagement platform that captures transaction data and delivers data-driven messaging and rewards. The company also operates an SMS marketing infrastructure across multiple short codes and, as of January 2025, owns the Belly loyalty product line acquired from Hatch Loyalty.

Mobivity's go-to-market is sales-led and enterprise-focused, with named customers including Checkers & Rally's, Refuel Operating Company, and Papa Gino's & D'Angelo, alongside platform adoption by 2 of the top 3 US oil and gas companies and penetration into 18% of top US convenience store locations as of Q4 2024. Revenue is generated through transaction-based fees on Connected Rewards offer redemptions and subscription-based SaaS fees for the re·currency platform. The Connected Rewards business employs a partner-funded model in which Mobivity and game publisher partners reimburse brands for offer costs, enabling acquisition campaigns to be marketed as cost-neutral to brand clients.

The company's financial profile has been materially stressed. FY2024 revenue was approximately $1.14M with Q3 2025 quarterly revenue of approximately $0.85M, and the balance sheet at September 30, 2025 showed $3.02M in assets against $27.13M in liabilities, prompting going-concern disclosures. In a pivotal strategic move, Mobivity sold substantially all assets of its Connected Rewards business to Mistplay Inc. and Reward Holdings, ULC for $5.3M in cash plus more than 6.3 million Class B common shares of Reward Holdings and potential earn-out equity, with the transaction closing on March 30, 2026.

Name

Mobivity

Legal name

Mobivity Holdings Corp.

Website

https://mobivity.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

51–100 employees

Short description

Mobivity Holdings Corp. is a public customer engagement technology company that connects brand offers to mobile game players and provides POS-based loyalty and SMS marketing tools to restaurants, convenience stores, and fuel retailers across North America.

Ownership category

akta.pro rank

Product category

Customer Engagement & Loyalty Software

SIC

Services-Advertising (7310), Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Offerwalls, Rewards & Performance Monetization (UA-linked payouts) (MPAFAJAI)

akta.pro secondary industry

Loyalty, Promotions & Gift Cards (bundles, coupons, prepaid) (MPAFAJAK)

Keywords

• Customer engagement platform
• Mobile gaming rewards
• Loyalty marketing software
• SMS marketing platform
• Retail customer acquisition

Headquarters

HQ city

Chandler

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Offer Redemption Fees: Mobivity charges brands transaction fees based on offer redemptions. Brands receive measurable customer engagement outcomes while Mobivity earns based on redemption volume. This aligns incentives between Mobivity, brands, and consumers.
2. Partner-Funded Rewards Model: Mobivity partners (game publishers, brands) fund rewards, and Mobivity earns fees for facilitating the connection between gameplay and brand offers. The company reimburses brands for offer costs while generating revenue from the partner ecosystem.
3. SaaS Platform Fees: The re•currency platform is offered as a subscription-based service to enterprise brands seeking customer engagement, loyalty program integration, and SMS marketing capabilities. Multiple short codes and keywords support various client programs.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Mobivity operates the Connected Rewards™ platform, which connects brand offers from world-class retail, restaurant, and convenience brands to consumers' gameplay in popular mobile games, delivering billions of offers and promotions annually. Underlying this is the re·currency SaaS platform, which captures POS transaction data, analyzes customer habits, and drives engagement through data-driven SMS messaging applications and rewards. The company also offers SMS short-code marketing services and the Belly loyalty product line (acquired from Hatch Loyalty in January 2025).

Product overview

Mobivity offers a unified customer engagement platform centered on its Connected Rewards technology, which connects retail, restaurant, and convenience brand offers to mobile game players. The core platform, branded as re•currency, combines SMS/text messaging capabilities with loyalty program management (including the acquired Belly loyalty product) to drive customer frequency and engagement. The company serves convenience stores, restaurants, and fuel retailers through partnerships with mobile game publishers and developers.

Differentiator

Problem solved

Functional benefit

Brands

• Connected Rewards: Technology that connects brand offers to mobile game players, delivering billions of offers and promotions
• re·currency
• Belly

Products and services

• Connected Rewards™ Mobivity's flagship platform that delivers billions of offers and promotions by connecting retail, restaurant, and convenience brand offers to consumers' gameplay in popular mobile games, driving accelerated acquisition, traffic, and loyalty app engagement for brands and higher monetization for game developers.
• re·currency SaaS customer engagement platform that captures detailed POS transaction records, analyzes customer habits, and motivates customers and employees through data-driven messaging applications and rewards to increase customer frequency.
• Belly Loyalty Loyalty program product line acquired from Hatch Loyalty in January 2025, enabling consumer loyalty program enrollment through participating client locations with features including check-ins, reward redemptions, and referral tracking.

Quantifiable outcome

• 2.5x higher redemptions following first offer participation
• +6 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered major divestiture and core.

• Mistplay Inc.major divestitureStrategic or Co-development Partner · 16 January 2026Mistplay acquired Mobivity's Connected Rewards platform and related assets for $5.3 million in cash plus more than 6.3 million Class B common shares of Reward Holdings and potential earn-out equity. The transaction, approved unanimously by Mobivity's board, closed in Q1 2026 (completed March 30, 2026). This divestiture represents Mobivity selling its core Connected Rewards business to Mistplay, with the agreement including customary closing conditions and third-party/stockholder approvals.
• Loyalty Providers and AgenciescoreChannel Partner/ Reseller/ Distributor · 12 December 2024Mobivity forged new technology and marketing partnerships with loyalty providers and agencies in 2024. These partnerships are described as driving sustainable adoption and momentum for Connected Rewards into 2025. The partnerships enable integration of Connected Rewards into existing loyalty programs and expand the go-to-market reach through agency relationships.
• Leading Mobile Game PublisherscoreTechnology or IntegrationMobivity partners with leading mobile game publishers and developers to integrate brand rewards into gaming experiences. These partnerships enable consumers to earn real-world rewards by playing mobile games, creating the core value proposition of the Connected Rewards platform. The publisher partnerships are essential to delivering the gaming audience that drives brand engagement.

Scale indicators9 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Mistplay: Mobile gaming rewards platform that acquired Mobivity's Connected Rewards business in March 2026. Operates a directly comparable rewarded-play / offerwall model connecting game audiences to brand offers, and now owns Mobivity's prior flagship product line.
• Tapjoy: Major rewarded-play / offerwall platform serving mobile game publishers and brand advertisers. Operates the same core mechanic as Mobivity's Connected Rewards — incenting gameplay with real-world brand offers — and is the closest direct functional peer.
• Aarki: Mobile AdTech / rewarded UA platform acquired by Skillz in 2021. Competes in the same intersection of mobile game monetization and brand performance marketing that Mobivity's Connected Rewards addressed, and was Mobivity COO Kim Carlson's prior employer.
• Punchh (PAR Technology): Restaurant and convenience-store loyalty platform serving many of the same enterprise brand customers (QSR, c-store, fuel) as Mobivity's Belly and re·currency products. Directly competes for the loyalty technology budget in Mobivity's primary verticals.
• Thanx: Restaurant loyalty and guest engagement platform that captures POS transaction data and drives repeat visits. Closely aligned with Mobivity's re·currency / Belly value proposition for restaurant and retail brand customers.
• Paytronix: Restaurant and convenience-store loyalty, gift card, and online ordering platform. Competes directly for the loyalty technology and customer engagement spend within Mobivity's restaurant and c-store customer base.

Broad incumbents

• Fyber (Digital Turbine): Mobile app monetization and offerwall platform (Fyber) now part of Digital Turbine. Offers overlapping rewarded-play and ad monetization capabilities; broader portfolio spanning UA, SSP, and ad mediation, unlike Mobivity's specialized Connected Rewards focus.
• ironSource (Unity): Mobile app monetization and offerwall platform acquired by Unity. Provides rewarded-play / offerwall infrastructure to game publishers — the same publisher side of Mobivity's two-sided marketplace — at significantly larger scale as part of Unity's broader monetization suite.
• Taptica (Tremor International / Nexxen): Mobile AdTech platform serving brand advertisers through mobile game and app channels. Operates in the same brand-to-mobile-audience performance marketing category as Mobivity's Connected Rewards, at significantly larger scale under Nexxen.

Emerging players

• Belly (Hatch Loyalty): Restaurant and retail loyalty product whose Belly line Mobivity acquired in January 2025. Directly comparable as a competing small-business loyalty platform before the acquisition, and remains adjacent to Mobivity's loyalty offering.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/mobivity
• YouTubeyoutube.com/channel/UCX7_QSh_vhxUEEmYbwVSHxQ
• Facebookfacebook.com/mobivity
• LinkedInlinkedin.com/company/mobivity
• Instagraminstagram.com/wearemobivity

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds7 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mobivity