Zoomingo has secured USD1.3 million in financing from two leading early-stage venture capital firms — Naya Ventures and Benaroya Capital — as well as several prominent angel investors.
Zoomingo is a new mobile "shopping discovery" app that provides consumers instant access to thousands of sale items on fashion, beauty, and home goods at top retailers in local markets nationwide.
The funding round is the first for the Seattle-based startup. It will be used to enhance the current application, build a retailer platform, and grow the Zoomingo community through expanded outreach to new customers and retail partners. Zoomingo is the brainchild of co-founders Shirish Nadkarni and Krishnan Seshadrinathan, who also co-founded Livemocha, the world’s largest language learning website.
"Zoomingo is at the forefront of the most interesting developments in location-based social shopping, an explosive growth area driven by rapid smart phone adoption," says Dayakar Puskoor, managing director of Dallas-based Naya Ventures. "We are excited to partner with a company whose founders have a proven track record of success in bringing innovative, useful mobile applications to market."
With this round of funding, Puskoor will join Zoomingo’s board of directors.
