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Dublin-based corporate gifting platform &Open raises $26M Series A led by Molten Ventures – TechCrunch

Last year us covered how “&Open” (yes, “ampersand-open”, pronounced “And Open”) had raised a combined seed of $7.2 million to make it easier for brands to send gifts to customers to encourage loyalty and to increase engagement. According to a study, customers who feel emotionally connected to a brand after receiving gifts have a 306% higher lifetime value. &Open competes with Sendoso and ReachDesk, which are in a similar space.

With all of us working remotely due to the pandemic, the ability to send gifts remotely suddenly took on a whole new meaning. Also, “the big step down” now means companies need to keep customers and employees a lot friendlier.

Dublin-based &Open, founded in 2017, has now raised $26 million in a Series A led by Molten Ventures, including participation from First Round Capital, LocalGlobe, Tribal VC and new investor Middlegame Ventures. Other new and existing investors also contributed to this round. The Series A brings the total capital of &Open to $33.2 million.

The company now has offices in Ireland, the UK and the US and plans to open an office in New York City next year.

His clients include Airbnb, Peloton, Spotify, Hopin, Intercom, Wayflyer and Better-Up. It also launched &Open On-Demand for SMEs.

“Now more than ever, companies are looking for ways to retain employees and foster genuine connections with customers and partners,” said Nicola McClafferty, a partner at Molten Ventures, in a statement. “By working with some of the largest global companies and brands, &Open has proven that when done right, gift giving is an incredibly powerful tool to increase brand loyalty and build advocacy.”

&Open’s on-demand gift marketplace gives SMBs the ability to give more easily and a pay-as-they-go model, unlike &Open’s enterprise solution, which has an annual contract and SaaS fees.

“All companies give – be it their employees, customers, interested parties or partners. Companies give because people drive companies and these relationships need to be nurtured. Loyalty matters more now than ever,” said Jonathan Legge, co-founder and CEO of &Open.

Dublin-based corporate gifting platform &Open raises $26M Series A led by Molten Ventures – TechCrunch Source link Dublin-based corporate gifting platform &Open raises $26M Series A led by Molten Ventures – TechCrunch

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