Gyft, Inc, the digital platform that enables customers to buy, send, manage and redeem gift cards via mobile devices, announced it has raised Series A funding. Participants included new investors A-Grade Investments, Social+Capital Partnership, Karlin Ventures, Haas Portman and entrepreneur David O. Sacks.
Last year the company announced an initial seed round from Google Ventures, Founder Collective and 500 Startups at TechCrunch Disrupt 2012.
“We invest in technology start-ups, like Gyft that show innovation and promise,” said Ashton Kutcher, co-founder of A-Grade Investments. “There is a mobile shift and Gyft is on a mission to digitize the $100B gift card market.”
“We are constantly looking for ways to add value for both merchants and consumers. By having the gift card handy, customers are more likely to use that gift card and even spend two to three times the value of the card,” said Gyft COO and Co-founder, CJ MacDonald. “The gift card market continues to grow and Gyft helps drive customer acquisition and redemption for retailers.”
With the funding, Gyft plans to continue development and scale the business to meet future demand for growth.
Gyft, Inc. provides a digital gift card platform for consumers and retailers and enables customers to upload, buy, send, and redeem gift cards conveniently from their mobile device. Gyft is a private company funded by leading investors, with offices in San Francisco, CA.
By Lolita A. Alford