Total amount raised
$129.8 Million
Latest funding date
04/01/2024
Location
Snappy has successfully raised funds over six rounds, with the latest being a Series D round led by Qumra Capital. The platform specializes in corporate gifting, offering a range of customizable and thoughtful gifts to enhance employee and client engagement.
Keep reading to explore the intricacies of Snappy's fundraising journey and the investors backing this innovative platform.
What Is Snappy?
Snappy is a corporate gifting platform based in New York, New York, specializing in enterprise software, gifts, and gift cards. The company operates with an employee count ranging from 101 to 250.
Snappy simplifies the gifting process for companies, allowing them to send personalized gifts to employees and clients without needing recipient addresses. The platform handles logistics and fulfillment, offering a seamless gifting experience.
How Much Funding Has Snappy Raised?
- Pre-Seed Round
- Amount Raised: USD 125,000
- Date: January 2017
- Lead Investors: XRC Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the business model.
- Seed Round
- Amount Raised: USD 1,500,000
- Date: July 2017
- Lead Investors: 83North
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series A
- Amount Raised: USD 8,200,000
- Date: October 2018
- Lead Investors: 83North
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Series B
- Amount Raised: USD 25,000,000
- Date: July 2020
- Lead Investors: Saban Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product line and enter new markets.
- Series C
- Amount Raised: USD 70,000,000
- Date: May 2021
- Lead Investors: Notable Capital
- Valuation at Round: Estimated at USD 360-400 million
- Motivation Behind the Round: To accelerate growth and enhance technological capabilities.
- Series D
- Amount Raised: USD 25,000,000
- Date: April 2024
- Lead Investors: Qumra Capital
- Valuation at Round: Estimated at USD 180-200 million
- Motivation Behind the Round: To enhance marketplace offerings, accelerate R&D, and expand product offerings.
Total Amount Raised: USD 129,825,000. Current Valuation: Estimated at USD 180-200 million.
Key Investors
- Qumra Capital
- Details: Qumra Capital is a growth capital fund that invests in late-stage technology companies. They were the lead investor in Snappy's Series D round.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Fiverr, Riskified, WalkMe.
- 83North
- Details: 83North is a global venture capital firm with offices in Israel and London. They invest in European and Israeli entrepreneurs.
- Investment Focus Areas: Technology, software, consumer, and enterprise sectors.
- Notable Investments: iZettle, Just Eat, Payoneer.
- Saban Ventures
- Details: Saban Ventures is the venture capital arm of Saban Capital Group, focusing on early and growth-stage investments. They participated in Snappy's Series B round.
- Investment Focus Areas: Media, entertainment, and technology.
- Notable Investments: Playbuzz, IronSource, Kaltura.
- Notable Capital
- Details: Notable Capital is a venture capital firm that invests in innovative technology companies. They participated in Snappy's Series D round.
- Investment Focus Areas: Technology, early to growth-stage companies.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Hearst Ventures
- Details: Hearst Ventures is the venture capital arm of Hearst Corporation, investing in early-stage and growth-stage companies. They participated in Snappy's Series D round.
- Investment Focus Areas: Media, information, and technology.
- Notable Investments: BuzzFeed, Pandora, Roku.
What's Next for Snappy?
Snappy is poised to capitalize on the growing demand for personalized and meaningful gifting experiences. With the recent $25 million Series D funding, the company plans to expand its marketplace offerings, accelerate research and development, and introduce Snappy Experiences for experiential gifts. These initiatives are set to enhance user engagement and solidify Snappy's position in the corporate gifting market.
Future fundraising opportunities appear promising, given the strong interest from investors like Qumra Capital and 83North. As Snappy continues to innovate and grow, additional funding rounds could support further expansion and technological advancements. However, the company must navigate challenges such as maintaining quality while scaling and staying ahead of industry trends to ensure sustained success.
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