Yiftee, a Menlo Park, CA-based web/mobile service for sending gifts at local shops and restaurants throughout the USA, completed a $2.1m Series A funding round.
The round, which added to a $1.0m seed round raised in 2012, was led by Dr. Peter Fitzgerald/TransPacific Ventures (who will join the Board), with participation from Intuit co-founder Scott Cook, Beverly Hills businessman Burt Sugarman with his wife and TV personality Mary Hart, Asset Management Company (Franklin “Pitch” Johnson), Jillian Manus/Broad Strategy Fund and Michael J. Levinthal.
The company intends to use the funds to scale operations.
Led by CEO and Co-Founder, Donna Novitsky, Yiftee provides consumers and businesses with a mobile app, web service and Application Programming Interface (API) to send gifts to friends, family and colleagues via email, text and Facebook®.
Recipients can pick up their gifts using their smartphones at their favorite local restaurants and shops, bringing business to those merchants.
In conjunction with the funding, the company is also announcing YifteePro, a web service (pro.yiftee.com) that allows people to upload a list of employees, customers, clients, partners, patients, prospects, etc., choose a gift from many local merchants and national brands, personalize as they wish, and send. The recipient gets the gift message and can redeem the gift at a merchant near them anytime in the next 90 days.
FinSMEs
28/01/2014