Wantful, a San Francisco, CA- and NYC-based gift-giving service, has raised $5.5m in Series A funding.
The round was led by Polaris Venture Partners, with participation from existing investors Harrison Metal, Greylock Partners and Forerunner Ventures, as well as a number of angel investors.
The company intends to use the capital to accelerate product development, strengthen marketing efforts and expand its product offering. Wantful plans to introduce a new Outdoor category focused on products from heritage brands, while increasing its gift offerings for men. It will add more than 650 new products to its assortment this month.
Founded in 2011 by by designer and serial entrepreneur John Poisson, CEO, the company also expects to make a number of key hires in both its San Francisco and New York City offices in order to grow its engineering, merchandising and operations teams.
In conjunction with the funding, Ryan Spoon, principal at Polaris Venture Partners, has joined the company’s board of directors.