— Mobile

Snapcommerce raises $85M to make over your mobile shopping experience – TechCrunch

People are not only shopping digitally more than ever; they’re also shopping using their mobile phones more than ever.

And for mobile-first companies like Snapcommerce, this is good news.

Snapcommerce, formerly known as SnapTravel, has raised $85 million in what the company describes as a “Pre-IPO” growth round to help further its mission of “changing the way people shop on their phones.”

The Toronto, Ontario-based startup has built out an AI-driven, vertical-agnostic platform that uses messaging to personalize the mobile shopping experience and “deliver the best promotional prices.” While it was initially focused on the travel industry, it is now branching out into other consumer verticals — hence its name change.

Inovia Capital and Lion Capital co-led the new growth round, which included participation from Acrew DCF, Thayer Ventures, Full In Partners, and existing backers Telstra Ventures and Bee Partners. The financing brings Snapcommerce’s total raised since its 2016 inception to over $100 million. Its last raise — a $7.2 million round from Telstra and NBA star Steph Curry — took place in 2019.

The startup was founded by tech entrepreneurs Hussein Fazal, whose previous company AdParlor grew to $100+ million in revenue, then sold to AdKnowledge back in 2011; and Henry Shi, who previously built unmentioned and worked at Google, where he helped launch YouTube Music Insights, according to previous TechCrunch reporting.

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