Plastic Jungle, a website for selling, buying and exchanging gift cards, has secured USD4.8m in its series A preferred stock financing, led by Shasta Ventures with investments from Bay
Plastic Jungle, a website for selling, buying and exchanging gift cards, has secured USD4.8m in its series A preferred stock financing, led by Shasta Ventures with investments from Bay Partners, First Round Capital and Harrison Metal.
The financing will allow Plastic Jungle to accelerate its growth through key new hires, as well as increased marketing and business development efforts.
‘This funding not only allows us to advance our company, but also brings tremendous knowledge and resources through our investors, all of whom have a wealth of valuable experience,’ says Gary Briggs, chief executive of Plastic Jungle. ‘We are entering a very exciting phase of our business and remain uniquely poised to create a new and more efficient market where consumers can realize the full benefit of gift cards they receive, and retailers can attract incremental revenue and profit by ensuring gift cards move into the hands of their best and most profitable consumers.’
As part of the round, Plastic Jungle will add two new members to its board of directors, including Tod Francis of Shasta Ventures and Josh Kopelman of First Round Capital.
