Popular shopping app, ShopAdvisor, has just announced having closed a $5 million financing round led by Pittco Capital Partners. According to the news, additonal investors included; Seavest Capital, Rationalwave Capital Partners, and prominent Boston-based investors Rob Soni and Bob Davoli.
Originally conceived and launched as a mobile app, ShopAdvisor morphed into an app for business that bridges the gap in between publishers, their advertisers and retail partners. The app allows leading media companies like Condé Nast, TIME, Inc. and Hearst Corporation, among others, to provide a reader service on a reader’s tablet, while simultatneously allowing advertisers to engage these readers-shopper. Scott Cooper, CEO of ShopAdvisor, offered these statements:
“This funding will help us expand our offerings across a broader set of publishers and media platforms, delivering an innovative new service that can finally close the loop between media companies, their advertisers and retail.”
“In an environment where editorial content and brand advertising are both valued by readers who shop, it seems natural to provide a way for featured brands and their retail partners to engage with those readers throughout the entire shopping cycle. This funding will help us expand our offerings across a broader set of publishers and media platforms, delivering an innovative new service that can finally close the loop between media companies, their advertisers and retail.”
The company intends using the funds as follows:
- Expansion beyond the tablet to include cross-platform programs across all media channels;
- Building additional product functionality suited to the types of products that appear in consumer media, especially fashion, health and beauty, home furnishings, consumer electronics and sporting goods;
- And investing in sales, marketing and business development to build the ShopAdvisor brand into a nationally recognized technology provider.
ShopAdvisor lets readers interact with magazine advertising and editorial content across media platforms. Users get to learn about, save, and get reminders about the products they find interesting while on their devices.