Total amount raised
$129.8 Millions
Latest funding date
04/01/2024
Location
Snappy has successfully raised funds through multiple rounds, with the latest being a Series D round closed on April 15, 2024. The company is backed by seven investors, including Notable Capital and Qumra Capital.
Snappy offers a unique platform for business and personal gifting, featuring digital unwrapping experiences and global delivery. Keep reading to explore the intricacies of Snappy's fundraising journey and the investors backing this innovative platform.
What Is Snappy?
Founded in August 2015, Snappy is an innovative enterprise software company specializing in gifting solutions. Headquartered in New York, the company was established by Dvir Cohen and Hani Goldstein.
Snappy employs between 101 and 250 people and offers a platform that simplifies the gifting process for both corporate and personal needs. The company is known for its digital unwrapping experiences and a wide selection of gift options, making it a popular choice for employee appreciation and customer loyalty programs.
How Much Funding Has Snappy Raised?
- Pre-Seed Round
- Amount Raised: $125K
- 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: $1.5M
- Date: July 2017
- Lead Investors: 83North
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform for a broader market.
- Series A
- Amount Raised: $8.2M
- Date: October 2018
- Lead Investors: 83North
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series B
- Amount Raised: $25M
- Date: July 2020
- Lead Investors: Saban Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series C
- Amount Raised: $70M
- Date: May 2021
- Lead Investors: Notable Capital
- Valuation at Round: $400M
- Motivation Behind the Round: To scale operations and enhance technological capabilities.
- Series D
- Amount Raised: $25M
- Date: April 2024
- Lead Investors: Qumra Capital
- Valuation at Round: $180-200M
- Motivation Behind the Round: To enhance marketplace offerings, accelerate R&D, and expand product offerings.
Total Amount Raised: $129.825M. Current Valuation: $180-200M.
Key Investors
- Qumra Capital
- Details: Qumra Capital is a growth capital fund that invests in late-stage technology companies. They led Snappy's Series D funding round.
- Investment Focus Areas: Late-stage technology 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 technology companies across various stages.
- Investment Focus Areas: Technology companies, European and Israeli entrepreneurs.
- Notable Investments: Just Eat, iZettle, Payoneer.
- Saban Ventures
- Details: Saban Ventures is the venture capital arm of Saban Capital Group. They focus on investments in digital media, entertainment, and communications.
- Investment Focus Areas: Digital media, entertainment, communications.
- Notable Investments: Playbuzz, IronSource, Outbrain.
- Notable Capital
- Details: Notable Capital is a venture capital firm that invests in high-growth technology companies. They participated in Snappy's Series D funding round.
- Investment Focus Areas: High-growth technology companies.
- Notable Investments: Specific notable investments are not mentioned.
- Hearst Ventures
- Details: Hearst Ventures is the venture capital division of Hearst Corporation. They invest in early-stage and growth-stage companies.
- Investment Focus Areas: Media, information, technology.
- Notable Investments: BuzzFeed, Roku, Pandora.
What's Next for Snappy?
Snappy's recent $25 million Series D funding opens up significant opportunities for the company. With plans to expand its marketplace offerings and accelerate research and development, Snappy is poised to enhance its product lineup and enter new markets. The company’s partnerships with 47% of the Fortune 100 companies and the delivery of over 5 million gifts globally underscore the vast potential for growth.
Future fundraising opportunities seem promising, given the successful Series D round. As Snappy continues to innovate and expand, it may attract further investments to support its growth trajectory. However, challenges such as maintaining market leadership amidst competition and managing rapid growth could pose hurdles. The halving of its valuation from $400 million to $180-200 million also indicates the need to bolster investor confidence and market performance.
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