eGifter Secures $1.7 Million Angel Round to Expand Social Gifting Platform
MELVILLE, NY, December 12, 2013-- eGifter, the social gifting company, today announced that it has closed its BB Angel financing round at $1.7 million. The round was oversubscribed and brings the total financing for the company in 2013 to nearly $3 million.
eGifter has emerged as an early leader in the growing business of social gifting. More than a dozen major retailers have adopted the eGifter Platform since its debut in June. eGifter’s turnkey hosted Platform for social and group gifting can be added to a retailers websites, fan pages and mobile apps.
eGifter also has a consumer facing marketplace which launched in 2012 and is available on Apple iOS, Android, and on the web. eGifter enables consumers to purchase eGift cards from over 150 major brands and give them to their friends on social networks and by email, complete with an animated eGreeting card, personalized message and video. Consumers can invite others to chip in, making it a group gift. Consumers can also purchase eGift cards for themselves as well as scan their plastic cards into the eGifter digital wallet.
The company opened the BB round in early October and closed it just six weeks later. “eGifter continues to live up to its potential as one of the most interesting tech startup stories on Long Island,” said Michael Faltischek, Partner at the Long Island law firm Ruskin Moscou Faltischek, P.C. and Chairman of the Long Island Angel Network (LIAN). “I am pleased that the LIAN was again able to play a role in helping the company exceed its funding goals.”
Leading the round for the company was Bob Brill of Newlight Management who is also a Director of the LIAN and on the Board of eGifter. “I worked with the eGifter management team in their previous venture. They are a proven team with a reputation for being relentless in their execution,” said Brill.
The team of eGifter investors also included Barry and Brian Rubenstein from Wheatley Partners and BDS Venture Fund LLC, Russ Artzt, the co-founder of Computer Associates (now CA Technologies) and several other tech and tech investment leaders from Long Island. “We set out to build a dream-team of investors and advisors. In addition to their financial support, we have access to their brain power and connections. The impact has been greater than we could have imagined,” concluded Roye.
The company has very ambitious growth plans. They are now hiring and have posted more than ten open positions on the eGifter site. The company also anticipates raising another round of financing in 2014.
Retailers interested in learning how eGifter can help them accomplish their social and mobile commerce goals can visit http://www.eGifter.com/Retailers/.
eGifter revolutionizes the act of gift giving with a social and mobile gifting platform designed to create a fun experience for consumers, while helping retailers unlock the viral potential of gift giving in social spaces. eGifter is based on New York and was founded in 2011 by a group of proven tech entrepreneurs. To learn more about eGifter and their social and mobile group gifting platform, visit http://www.eGifter.com/Retailers/. Try it out at http://www.eGifter.com or download the mobile app from iTunes or Google Play.
About the Long Island Angel Network (LIAN)
With strong ties to Long Island’s technology industry, research, incubator, and “lean startup” communities, LIAN is the region’s only publicly active organization of experienced individual investors who provide critical, early-stage capital for local startups.
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