ICN was founded by a team of software engineers and business managers who realized that the efficiency and fraud related to coupons was well documented and persistent. While digital couponing is by far the most efficient way to process incentives at the POS, it remains small and fragmented and will take a number of years to gain significant adoption and market penetration. But two factors have now converged to make the processing of paper coupons through the same POS connection more efficient and less prone to mal/mis-redemption and fraud: But two factors have now converged to make the processing of paper coupons through the same POS connection more efficient and less prone to mal-mis-redemption and fraud: First, the introduction of the new GS1 Data-bar coupon that was rolled out throughout 2011 and will be fully phased in during 2012. The expanded GS1 coupon will permit POS validation of expiration date, SKU level data and any number of unique identifiers permitting fully electronic validation at the POS. Second, retailer POS systems can now be reliably connected online, with speed in milliseconds well established, permitting the real-time flow of data between parties and the seamless 3rd party clearing of both digital and paper coupons.
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Type
Private
HQ
North Haven, US
Founded
2008
Size (employees)
8 (est)
Intelligent Clearing Network was founded in 2008 and is headquartered in North Haven, US
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Intelligent Clearing Network Office Locations

Intelligent Clearing Network has an office in North Haven
North Haven, US (HQ)
110 Washington Ave
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Intelligent Clearing Network Financials and Metrics

Summary Metrics

Founding Date

2008

Total Funding

$2.6 m

Latest funding size

$1.10 m

Time since last funding

5 years ago

Investors

Intelligent Clearing Network's latest funding round in October 2013 was reported to be $1.1 m. In total, Intelligent Clearing Network has raised $2.6 m
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