Wrapd, the deals and discovery app formally known as 'Her Black Book', has closed a $1.8M round of funding. The capital comes as Wrapd, originally a smartphone app, has launched its web version. The platform connects brands with highly engaged, 'ready-to-shop' audiences. The round includes several previous investors, who've chipped in $4M of funding and included Touch Ventures and Andrew Hagger amongst others.
The platform has attracted over 800 retail partners, including Gucci, Nike, Aje and Lululemon. Interestingly, the co-founder's previous venture, Stylerunner, which unfortunately ended in VA, is also listed on the platform.
The consumer gets curation of promotions, flash sales, rewards and cash back from a mix of emerging and well-established retailers. The brands get to be in the spotlight of the Wrapd community.
The fresh capital will be invested in the tech, including using artificial intelligence to offer new functionality to consumers and merchants, scaling brand partnerships, and marketing to drive customer base growth. The gender-neutral name, Wrapd, will also allow the platform to expand its brand and product categories.
Due Diligence: AFR, Business News Australia
