Investment Fuels Marketplace Expansion and Product Innovation
NEW YORK, April 16, 2024 /PRNewswire/ -- Snappy, the gifting platform, today announced the successful closing of its Series D funding round, securing $25 million in capital. This latest investment round was led by Qumra Capital with participation from 83North, Saban Ventures, Notable Capital, and Hearst Ventures, underscoring strong confidence in Snappy's vision and its ongoing commitment to revolutionizing gifting built on fostering gratitude and appreciation.
Since its founding in 2015, Snappy has dramatically redefined the gifting space by eliminating friction and guesswork. To date, Snappy has delivered more than 5 million gifts globally and acted as the trusted partner to 47% of the Fortune 100. With a curated marketplace featuring a selection of premium gifts, more than 30 business integrations, and innovative gamification, Snappy distinguishes itself as a pivotal player in the gifting sector.
The new funds will be strategically allocated to enhance Snappy's marketplace offerings, accelerate research and development (R&D) efforts for innovative technologies, and expand its product offerings, reinforcing its commitment to an API-first approach and enriching the gifting experience for gift-givers and recipients.
"Our goal is not just to lead but also redefine gifting, ensuring it becomes more personal, meaningful, and seamlessly integrated into daily business tools, fostering stronger workplace connections, increasing engagement, and elevating retention," said Hani Goldstein, Co-Founder and CEO of Snappy.
This investment follows a notable year for Snappy, marked by advancements, including continued growth for its self-service offering, expanded swag solutions, and the introduction of a digital gift hunt as part of its revamped recipient experience. Additionally, a new API integration allows customers to streamline operations while turbocharging employee engagement. Upcoming initiatives include launching Snappy Experiences for experiential gifts, announcing strategic product partnerships, and further elevating the user experience.
"Snappy represents exactly the type of company we look to join forces with at Qumra," said Omri Strul, Investment Director at Qumra Capital. "During the past couple of years, it established itself as the de-facto market leader and go-to gifting platform for some of the largest global corporates, vastly outperforming competition. We're thrilled to partner with Snappy's excellent founding and management team as they enter the next phase of their journey."
For more information about Snappy, visit www.Snappy.com.
About Snappy
Snappy is the gifting platform that spreads joy, shares gratitude, and takes the guesswork out of gifting.
Founded in 2015, Snappy was named one of Inc.'s fastest-growing companies in the Northeast in 2021, 2022, and 2023. Snappy is the trusted gifting and swag partner to over 47% of Fortune 100 companies and thousands of individuals. Snappy has sent more than five million gifts worldwide. Snappy thrives on connecting people and cultivating meaningful relationships through the power of gratitude and gifting.
Snappy has been featured on Fortune's "Best Small & Medium Workplaces," "Best Workplace for Millennials," and "Best Workplace in Tech" lists.
Media Contact
Colleen Schwartz
[email protected]
Head of Communication, Snappy
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