Snappy Raises $70M To Expand All-In-One Enterprise Gifting Platform

Israeli-founded gifting tech platform Snappy has completed a $70 million Series C funding round, the company announced on Wednesday. This brings the company’s total funding to over $100 million.

The latest round was led by GGV Capital with participation from existing investors 83North, Saban Ventures and Hearst Ventures.

The company said it will use these funds to continue to invest in world-class talent and innovation as it expands into additional segments and markets, explores acquisitions and continues to redefine the category.

Snappy co-founders Hani Goldstein and Dvir Cohen set out to build a gifting platform that would overcome the difficulties of sending personal gifts in a simple, fun, and stress-free way.  Snappy says it has become a trusted partner to over 1,000 enterprise customers including Microsoft, Adobe, Comcast, and Uber, and has sent more than one million gifts in the last six months alone. 

“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 Goldstein, who serves as CEO.

Companies in the US spend more than $125 billion on gifts for both employees and customers, with a further $375 billion spent by individuals.  Yet, gift-giving is an inefficient process with over $100 billion in returns processed every year in the US alone.  Snappy’s unique approach to curated gift collections allows recipients to choose the gift they love before it’s delivered, making environmental and logistical sense. 

Snappy’s 800 percent year-over-year revenue growth and five-star customer ratings signal huge potential for this New York-based startup, the company said.

The platform 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.  As corporations think through the future of work and the impact of digitalization and globalization on the workplace, it’s clear that engaging employees and customers, wherever they are located, is top of mind for leaders across the US. 

“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. “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,”

Tung will join Snappy’s board as part of the round.