Corporate gifting company Snappy has secured USD10 million in funding to date, led by 83North with participation from Hearst Ventures.
Snappy believes that companies are looking for creative ways to reward employees, but gift cards, paper weights, and other generic corporate gifts don’t make employees feel valued.
Snappy allows employees to choose their favourite gift from a curated collection of personalised options, which include local experiences like cooking and yoga classes, global getaways, as well as trending products like Amazon’s Echo Dot and drones. Gifts are sent via email or text and are sourced from leading brands and retailers, with prices ranging from USD15 to more than USD1,000.
“We help managers reward and motivate their team members without having to settle for an impersonal and boring gift card,” says Snappy CEO and Co-Founder Hani Goldstein. “By combining the traditional thoughtfulness of gifting with the choice and simplicity of a gift card, Snappy creates a simple, personalised solution, ensuring each team member feels appreciated and valued for their hard work, while creating excitement and improving company culture.”
Snappy will use the capital to meet the incredible international and domestic demand from current clients, accelerate the product roadmap and expand its global footprint.
“The value that Snappy creates within organisations excites us,” says 83North General Partner David Buttress. “We followed Snappy from its early days and were amazed by the consistent and positive feedback from employees once they got the gift from their employers. That kind of change in attitude toward your employer is only possible thanks to the use of this technology, which the Snappy team built over the last few years.”
“It’s never been more important to retain exceptional talent, and, as employee demand for recognition grows, the market for the solution that Snappy provides is unprecedented,” says Ken Bronfin, Hearst Ventures senior managing director and head of international investments. “Not only has Snappy identified an underserved market, but the accelerated growth of the company proves that when done correctly, employee appreciation and gifting is vital for companies.”
