from all things d:

fivestars, a loyalty program for local retailers, has raised $13.9 million in a first round of funding.

the mountain view, calif., company is trying to eliminate the need for loyalty punch cards in a very low-tech way — in other words, no fancy ipads or mobile applications.

investors in the round include lightspeed venture partners and dcm. other investors include y combinator, mayfield fund, and angel investors chamath palihapitiya and brothers hadi and ali partovi.

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