Blucarat, a NYC-based developer of social commerce solutions for online retailers, raised $1m in financing from private investors.
The company intends to use the funding to further develop and commercialize its platform.
Led by Tom C. Kwon, founder and CEO, Blucarat provides a cloud-based global social commerce platform that allows online retailers to grow social communities and convert them into customers by enabling the exchange and sharing of real-time product reviews, recommendations and curated purchase inspirations contributed by friends, experts and like-minded shoppers.
It is currently in beta with select online retailers and will be commercially available later this year.
The company was incubated within MDC Partners (NASDAQ: MDCA), which now owns a minority stake in Blucarat.