Shoppable raises $3.5m in new funding
New York-based e-commerce start-up Shoppable has reportedly raised $3.5m in new funding. According to a report published by TechCrunch today (2 August), the Series A round saw participation from MI Ventures, Canary Ventures, On Grid Ventures, Thomas Varghese, Bodley Group, John D. Owen, Noopur Shukla, Andrew Boszhardt Jr., Sandeep Bhanote and an unnamed strategic investor.
Shoppable has developed technology which allows online consumers to buy products from multiple retailers within one universal checkout. The company partners with retailers to match their products back to consumers looking to purchase them on Shoppable.com or across any of the partner sites listed as “Powered by Shoppable ”.
The company has also developed a proprietary technology – called Shoppable for Media Companies – which, as Shoppable explains it, “allows the customer to purchase directly within the website that inspired their purchase decision”. In other words, the shopper can add add their purchase to their Shoppable universal cart without leaving the publisher’s website.
