Dublin-based corporate gifting platform &Open raises $26M Series A led by Molten Ventures – Nob6

Final 12 months we coated how “&Open” (sure, “ampersand open,” pronounced “And Open”) had raised a raised $7.2 million seed to make it simpler for manufacturers to ship items to clients to spice up loyalty and engagement. In response to one research clients who really feel emotionally linked to a model after receiving items have a 306% greater lifetime worth. &Open competes with Sendoso and ReachDesk, that are in an analogous area.

As a result of the pandemic made us all work remotely, having the ability to ship items remotely abruptly took on an entire new significance. Plus, now “the Nice Resignation” means corporations have to maintain shoppers and staff rather a lot sweeter.

So the Dublin-based &Open, which launched in 2017, has now raised $26 million in a Sequence A led by Molten Ventures, together with participation from First Spherical Capital, LocalGlobe, Tribal VC, in addition to new investor Middlegame Ventures. Different new and present buyers additionally contributed to this spherical. The Sequence A brings &Open’s complete capital raised to $33.2 million.

The corporate now has a presence in Eire, the U.Okay, and the U.S., and plans to open an workplace in New York Metropolis within the subsequent 12 months.

Its shoppers embody Airbnb, Peloton, Spotify, Hopin, Intercom, Wayflyer and BetterUp. It’s additionally launched &Open On-Demand for SMEs.

“Now, greater than ever, corporations are searching for methods to retain staff and foster actual connections with clients and companions,” stated Nicola McClafferty, companion at Molten Ventures in a press release. “Working with a few of the largest world companies and types, &Open has confirmed that gifting, when completed proper, is an extremely highly effective instrument to extend model loyalty and construct advocacy.”

The &Open On-Demand gifting market will give SMEs the flexibility to present extra simply and a pay as they go mannequin, in contrast to &Open’s Enterprise resolution, which has an annual contract and SaaS charges.

“All corporations present — be it their staff, clients, prospects or companions. Firms present as a result of folks energy companies and people relationships must be nurtured. At present, greater than ever, loyalty issues,” stated Jonathan Legge, co-founder and CEO of &Open.

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