ShopSavvy Raises $7M in Series A Funding
ShopSavvy, a San Francisco, CA-based mobile shopping comparison app, has secured $7m in Series A funding.
The round was led by Eduardo Saverin, Facebook co-founder and private investor, with participation from Brad Martin, former Chairman and CEO of Saks Incorporated and Chairman of RBM Venture Company.
The company intends to use the funding to open a new office in San Francisco and expand its engineering team to build new services.
Launched in 2008, ShopSavvy allows smartphone users to scan the barcode of a product they are interested in buying and the app searches the cheapest item in a given area (or online).
The service aggregates product data, deals, ratings and reviews from retailers, partners and its own users to provide a comprehensive source of information and advice for mobile shoppers anywhere.
ShopSavvy counts over 40,000 partnerships with retailers, including Walmart, Target, Best Buy, Sears, Nordstrom and Barnes & Noble, among the others.
In conjunction with the funding, Saverin and Martin will join the company’s board of directors, along with James Bailey and John Boyd, COO and co-founder of ShopSavvy.
They join co-founders Alexander Muse (CEO) and Rylan Barnes.