Punchbowl, a Framingham, MA-based technology platform for online invitations and digital greeting cards, closed an investment from party goods company Party City (NYSE:PRTY).
The amount of the deal was not disclosed. In conjunction with the funding, Ryan Vero, Executive Vice President of Party City Holdco Inc. and President of Party City Retail Group, joined the company’s Board of Directors.
Founded by Matt Douglas, CEO, Punchbowl provides a technology platform for online invitations and digital greeting cards. The company runs its platform on Punchbowl.com, iOS and Android apps, and also licenses its technology to selected consumer companies.
The company is also backed by Intel Capital, Contour Venture Partners, and Launchpad Venture Group. company
Party City has also launched a new digital invitation platform on PartyCity.com, powered by Punchbowl. The new capability provides party givers with a single source at PartyCity.com to create invitations while ordering their party supplies online.