Treater, a Northern Virginia-based social and mobile gifting company, launched out of private beta with $2.5m in seed funding.
Backers include a mix of funds and angel investors.
The round brings to the company’s Board of Directors:
– Fred Schaufeld, Managing Director of SWaN Investments and founder and Vice Chairman of NEW Asurion Corporation,
– Jack Davies, founder and former President of AOL International, and
– Gene Riechers, former General Partner at Valhalla Partners
Led by Jeff Ross, CEO, Treater is a social gifting platform that allows users to instantly send real Treats like a coffee or an after-work cocktail, to friends on their mobile devices. Each “Treat” is an electronic, one-time use payment card that is item specific and delivered via Facebook post, email or text to a smartphone to redeem for items at restaurants and retail stores.