ShopAdvisor, a Boston, MA-based provider of a shopping experience app for media, closed a $5m financing.
The round was led by Pittco Capital Partners, with participation from additional investors Seavest Capital, Rationalwave Capital Partners, and Boston-based investors Rob Soni and Bob Davoli.
The company intends to use the funds to expand beyond tablet to include cross-platform programs across all media channels, build additional product functionality suited to the types of products that appear in consumer media, especially fashion, health and beauty, home furnishings, consumer electronics and sporting goods, and invest in sales, marketing and business development.
Originally launched as a mobile app for consumers to remember and track products for later, ShopAdvisor currently enables media companies (including Condé Nast, TIME, Inc. and Hearst Corporation) to provide a shopping reader service for their tablet editions allowing advertisers to engage with readers at all stages of their shopping journey – from discovery to purchase.
Founded in 2011 and led by Scott Cooper, CEO, the company also offers consumer apps for iPhone, iPad, Android and the Web.