Snappy raises $25 million Series D at half its previous valuation
Snappy raises $25 million Series D at half its previous valuation
The company, which laid off almost a third of its workforce last January, did not disclose its valuation in the round, but it is estimated to be in the region of $180-200 million, half of the value it received when it raised a $70 million Series C three years ago
Israeli-founded and New York-based gifting platform Snappy announced on Tuesday the closing of its Series D funding round, securing $25 million in capital. This latest investment round was led by Qumra Capital with participation from 83North, Saban Ventures, Notable Capital, and Hearst Ventures.
The company did not disclose its valuation in the Series D, but it is estimated to be in the region of $180-200 million, half of the value it received when it raised a $70 million Series C in May 2021. Snappy took its total funding to date to over $130 million.
Last January, Snappy laid off 100 employees, accounting for around 30% of its workforce. The company was co-founded by CEO Hani Goldstein and CTO Dvir Cohen, who is in charge of Snappy’s R&D activity in Israel.
According to the company, since its founding in 2015, it has delivered more than 5 million gifts globally and acted as the trusted partner to 47% of the Fortune 100. It has developed a marketplace featuring a selection of premium gifts, more than 30 business integrations, and gamification.
"Our goal is not just to lead but also redefine gifting, ensuring it becomes more personal, meaningful, and seamlessly integrated into daily business tools, fostering stronger workplace connections, increasing engagement, and elevating retention," said Hani Goldstein, Co-Founder and CEO of Snappy.
