Loop Commerce Raises $16M in Funding

loop commerceLoop Commerce, a Menlo Park, CA-based provider of an e-gifting and commerce platform, raised $16m in funding.

Backers included:
– Oren Zeev;
– Dan Tierney and Stephen Schuler (through their family office Wicklow Capital);
– Andrew Fine;
– Silas Chou (through his family office Novel TMT);
– Don Katz, EVP at Amazon;
– Mark Carges, former CTO at eBay;
– Dan Rose, Facebook’s VP of partnerships and strategy;
– Ken Seiff, former EVP e-commerce at Brooks Brothers;
– Michael Scharff, former SVP at Toys “R” Us and Best Buy;
– Ron Offir, former SVP e-commerce at Michael Kors;
– Richard Sarnoff from KKR;
– Chuck Geiger, CTO of Chegg and former CTO of PayPal;
– Roy Rubin, founder and former CEO of Magento;
– Dovi Frances, managing partner at SG; and
– Mohan Gyani, board member at Blackhawk Networks.

The company, which has now raised $30m, will use the funds to accelerate its growth, including the hiring of new team members across engineering, data, sales and marketing, product and design functions.

Led by Roy Erez, CEO and co-founder, Loop Commerce provides a SaaS solution that integrates with retailers’ online stores and backend systems to allow online customers to select and send gift to everyone for every occasion. Recipients receive notifications of their gifts, and are directed to the retailer’s online store to accept them. Introduced during the second half of 2014. Loop is used by retailers including Macy’s, Lancôme, Urban Decay, Diane von Furstenberg, Johnny Was, Relax the Back and Thomas Dean.



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