Startup profile for Hatch: latest funding, latest known valuation, total disclosed funding, investors, status, sources, and why the company is interesting. Part of the Venture Capital Tracker startup directory.
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Hatch funding, valuation and investors

Enterprise customer activation platform (formerly Belly SMB loyalty)—Belly assets sold to Mobivity in 2018.

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Funding, valuation & investors

Answer-first snapshot

Latest funding

Series B-1

$12.1M · August 2013

Latest known valuation

Not publicly disclosed

Total disclosed equity funding

$22M

Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.

Current status

acquired

acquired · Chicago, Illinois

Investors in latest funding

Lead: New Enterprise Associates

Other: Andreessen Horowitz

Latest tracked event: Belly assets acquired by Mobivity (November 2018). It is shown separately because it is not counted as disclosed equity funding.

Sources: latest funding Last verified: 2026-07-25

Overview

Hatch (Hatch Loyalty, formerly Belly) started in 2011 Chicago as Belly—a tablet-based digital loyalty program for local merchants backed by Lightbank and Andreessen Horowitz. Belly scaled to thousands of merchants and millions of members, integrating with Apple Wallet and Google Wallet, before rebranding to Hatch Loyalty in 2017 to focus on enterprise retailer activation. In November 2018, Mobivity acquired Belly's SMB product assets for $3 million ($2M cash, $1M debt), adding 2,000+ merchant locations and 7M loyalty members to Mobivity's re•currency platform. Hatch Loyalty continued as an enterprise customer activation engine separate from the sold Belly line. Note: this is distinct from Hatch (hatch.co) sleep products, which is not an a16z portfolio company.

Why Hatch is interesting

Belly was a16z's 2012 bet on brick-and-mortar loyalty tablets; Hatch Loyalty pivoted upmarket and sold the Belly SMB line to Mobivity for $3M while keeping enterprise activation software.

Product & use cases

Hatch Loyalty built a customer activation engine for enterprise retailers—flexible loyalty and engagement products beyond the original Belly SMB tablet app. The Belly SMB line was divested to Mobivity.

  • Digital loyalty programs for brick-and-mortar SMB merchants (Belly, pre-2018)
  • Enterprise retailer customer activation and engagement campaigns
  • Wallet-integrated rewards and visit-frequency analytics

Key facts

  • Series A (2012): $10M from a16z for Belly loyalty (TechCrunch/Wikipedia)
  • Series B-1 (2013): $12.1M led by NEA with a16z (Wikipedia)
  • 7-Eleven rolled Belly to 2,600 stores in 2014; discontinued 2016 (Wikipedia)
  • Mobivity bought Belly assets from Hatch Loyalty for $3M Nov 2018 (GlobeNewswire)

Funding history (newest first)

Belly assets acquired by Mobivity

2018-11 $3M

Source: https://www.globenewswire.com/news-release/2018/11/14/1651783/0/en/Mobivity-Completes-Acquisition-of-Belly-a-Leading-Digital-Loyalty-Solution-for-Brick-and-Mortar-Businesses.html

Series B-1

2013-08 $12.1M

Source: https://en.wikipedia.org/wiki/Belly_(loyalty_program)

Series A

2012-05 $10M

Source: https://en.wikipedia.org/wiki/Belly_(loyalty_program)

Investors in our directory

Funds linked from Hatch's profile — open a fund page for stage focus and related deal articles.

Andreessen Horowitz New Enterprise Associates (NEA)

Competitive landscape

Edge: Early mover in tablet-based SMB loyalty with a16z/NEA backing and wallet integrations; enterprise Hatch platform targeted larger retail workflows after SMB divestiture.

Belly competed in crowded SMB loyalty against Fivestars and square-integrated rewards. Hatch's enterprise pivot and Belly divestiture reflected better unit economics upmarket. Mobivity consolidation absorbed SMB scale while Hatch Loyalty focused on activation tooling for larger retailers.

  • Fivestars / SumUp direct

    SMB loyalty and payments for local businesses competing with legacy Belly.

  • Mobivity direct

    Acquirer of Belly assets; now operates Belly under re•currency for SMB merchants.

  • Paytronix adjacent

    Enterprise loyalty and guest engagement for restaurants and retail chains.

Notable stories

  • Belly was an Apple Wallet launch partner in 2012—early mobile loyalty distribution play (Wikipedia).
  • Founder Logan LaHive stepped down as CEO in 2016; COO Dan Gloede succeeded before Hatch rebrand (Wikipedia).
  • Mobivity projected Belly acquisition would add $2M+ annual revenue and 7M loyalty members (GlobeNewswire).

Industries

Enterprise SaaS Fintech

Related funding articles

Venture Capital Tracker pieces that cover Hatch's financing or category context.

FAQs about Hatch

Practical answers founders, operators, and investors typically search for.

Hatch Loyalty (originally Belly) was a digital loyalty platform for merchants. a16z invested in Belly starting 2012. This is not Hatch sleep products (hatch.co).
Andreessen Horowitz (/fund/andreessen-horowitz) and NEA (/fund/new-enterprise-associates) participated in major rounds per public records.
No. Mattel acquired Sproutling (2016), not Hatch. The sleep company Hatch (hatch.co) remains independent and was never an a16z portfolio company.
Mobivity acquired Belly's SMB product assets from Hatch Loyalty in November 2018 for $3 million.
Belly provided tablet-based digital loyalty programs for local brick-and-mortar businesses, with a consumer app for earning rewards.
Logan LaHive and Craig Ulliott founded Belly in Chicago in 2011 with Lightbank seed funding.
Hatch Loyalty continued enterprise activation post-Belly sale; verify current status at hatchloyalty.com—coverage focuses on the a16z-era Belly/Hatch Loyalty entity.
Both targeted SMB loyalty. Belly used in-store tablets and wallet integrations; competitors offered overlapping visit-tracking and rewards mechanics.
Hatch stated the Belly sale finalized a two-year plan to shift from SMB to enterprise customer activation (AP News/Business Wire).
Multiple rounds including $10M (2012) and $12.1M (2013) with a16z and NEA; total venture raised not fully disclosed in sources reviewed.
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