Peeractive Inc., the NYC-based company behind online shopping platform Drop ’til you Shop, recently closed $1.25m funding round.
The round was led by Robin Hood Ventures, with participation from DreamIt Ventures and a private equity fund.
Led by Nick Rosenthal, CEO, Drop ’til you Shop provides an online shopping platform that delivers discounts to consumers while optimizing margins for retailers. It allows shoppers to compete against each other for limited time offered products, while prices are constantly in-flux using a patent-pending dynamic pricing algorithm.
The company, which graduated from DreamIt Ventures, has partnered with retailers in the jewelry, gourmet foods, and electronics industries.
Originally based in Sydney, Australia, Peeractive Inc. recently relocated to New York.