Israeli corporate gift company Snappy announced today that it has completed a $10 million financing round led by 83North with participation from Hearst Ventures.
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. Through Snappy, gifts are sent via email or text in a fun innovative way and are sourced from leading brands and retailers, with prices ranging from $15 to more than $1,000.
Snappy CEO and cofounder Hani Goldstein said, “We help managers reward and motivate their team members without having to settle for an impersonal and boring gift card. By combining the traditional thoughtfulness of gifting with the choice and simplicity of a gift card, Snappy creates a simple, personalized 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 strong international and domestic demand from current clients, accelerate the product roadmap and expand its global footprint.
83North general partner David Buttress said, “The value that Snappy creates within organizations excites us,” “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.”
Published by Globes, Israel business news - en.globes.co.il - on October 23, 2018
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