Snappy is an Israeli startup which offers a new platform for gift giving. The company declares that it is reinventing the way to give gifts to fit the modern era. It just brought in $70 million Series C funding round, led by GGV Capital with participation from existing investors 83North, Saban Ventures and Hearst Ventures. This brings Snappy’s total funding to over $100 million.
Clearly people see a big return on investment for a new company in the field of gift giving. Maybe they think that Snappy could be the next Amazon. Or maybe someone expects Christmas to come all year round.
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Founded in 2015 by, Hani Goldstein and Dvir Cohen, Snappy calls itself an all-in-one enterprise gifting platform, “using the power of experience to delight and connect people around the world.” So it is kind of like Santa Clause, only it makes money from what it does.
But this is specifically meant for companies which give out gifts. Snappy explains that in the US spend more than $125 billion on gifts for both employees and customers, with a further $375 billion spent by individuals.
The platform, boasts Snappy, offers high-quality gifts from top brands and retailers, handpicked by professionals using a proprietary gift-trends algorithm and real-time stock availability. It’s simple to set up and can also be integrated with human resources platforms to trigger automated gift sends for occasions like employees birthdays or work anniversaries. Snappy’s clients also have access to real-time recipient feedback and gift insights to help understand the positive impact of their programs
“Our customers are looking for innovative and effective ways to show appreciation for their employees in an increasingly digital world. Part of our success is our focus on the fun of the experience and creating magical moments that will surprise and delight recipients. Our goal is to become the go-to global gifting hub for anyone who wants to send a gift,” said Snappy CEO, Hani Goldstein.
“We work with some of the top entrepreneurs and disruptors across the globe, and Snappy is a natural fit for our portfolio,” said Hans Tung, managing partner at GGV Capital and Snappy board member. “We have been so impressed by the team and the incredible growth trajectory they are on. Snappy is emerging as a clear leader in this category, and we’re excited to have been a part of their journey over the last four years. We look forward to seeing their continued success.”
