Dublin-based company gifting platform &Open raises $26M Collection A led by Molten Ventures

Final yr we covered 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 prospects to spice up loyalty and engagement. In line with one research prospects who really feel emotionally related to a model after receiving items have a 306% greater lifetime worth. &Open competes with Sendoso and ReachDesk that are in an identical area.

As a result of the pandemic made us all work remotely, with the ability to ship items remotely instantly took on a complete new significance. Plus, now “the Nice Resignation” means corporations have to hold purchasers and workers rather a lot sweeter.

So the Dublin-based &Open, which launched in 2017, has now raised $26 million in a Collection 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 Collection A brings &Open’s whole capital raised to $33.2 million.
 
The corporate now has a presence in Eire, the U.Ok, and the U.S., and plans to open an workplace in New York Metropolis within the subsequent yr.

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

“Now, greater than ever, corporations are in search of methods to retain workers and foster actual connections with prospects and companions,” stated Nicola McClafferty, associate at Molten Ventures in an announcement. “Working with among the largest international companies and types, &Open has confirmed that gifting, when accomplished proper, is an extremely highly effective software to extend model loyalty and construct advocacy.”

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

“All corporations reward—be it their workers, prospects, prospects, or companions. Firms reward as a result of folks energy companies and people relationships have to be nurtured. As we speak, greater than ever, loyalty issues,” stated Jonathan Legge, co-founder and CEO of &Open.

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