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SnapRetail Raises $6 Million in Venture Capital

GDA Staff -- Gifts and Dec, 2/25/2011 12:13:06 PM

Pittsburgh - SnapRetail, which facilitates electonic marketing for gift retailers, closed $6 million in Series A venture capital funding.

Ted Teele, CEO of SnapRetail, said in a statement, "Today's announcement allows us to develop a series of revolutionary new products to help independent retailers and the vendors prosper in this digital age."

"SnapRetail attracted us with their exclusive relationships, ability to aggregate and distribute product and marketing content and their vision of helping retailers with digital marketing and sales," explained Nikhil Sinha, venture partner at Adams Capital Management, which led the round with $2.25 million in funding, in a deal that includes investments by the firm's entire senior management team.

"The company has a management team that offers a rare blend of functional expertise in software development as well as deep industry experience," Sinha continued. Sinha will join SnapRetail's board of directors.

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