eYantra Acquires Rewards Management Solution Startup Privilege Corner

eYantra has announced that it has acquired Privilege Corner for an undisclosed sum, we’ve learned today. India-based startup Privilege Corner provides online rewards management solutions through its platform for both employees and customers.

It is like a “gamification layer” for an online employee benefits system. For example, an employee who has done a great job can enjoy discounts that would help him save 15 percent of his annual salary. Alternatively, companies can also customize their reward program through their own points/benefit system.

Privilege Corner was founded in June 2010 by, Anshul Gupta, Nitin Mathur, Harsh Azad, and Umang Maheshwari. The startup previously raised US$200,000 from angels in December 2010. Privilege Corner’s clients include big brands like Adidas, Canon, Swatch, and Calvin Klein.

If you’re wondering what eYantra is, it is basically a “brand merchandising and corporate gifting” company. It isn’t exactly a tech company but it has a ton of companies’ data which it uses to promote Privilege Corner’s rewards management online solution.

eYantra raised private equity of $3.1 million in March 2008 from Ventureast and another $7.5 million in February 2010 from Argonaut. The Hyderabad-headquartered company has over 300 employees, with operating offices in Mumbai, Delhi, Chennai, Bangalore, Hyderabad, Kolkata, and Pune.