Giveter operates a recommendation engine that helps users find gifts through algorithmic matching. The founders launched the service in August last year and have since built a sister site, Roposo.com, using the same algorithm to focus on fashion. The team split gifts and fashion into separate platforms because combining them compromised category-specific experiences, though they may try a combined design in future. The raise will be used to build technology, hire talent (algorithms, UI/UX) and drive brand awareness and marketing. Giveter reports it is very close to breaking even and is attracting roughly 300,000 users per month. Mobile apps for the platform were expected to be released within a month of the report. The company earns revenue via commissions on lead generation, but the current priority is user growth rather than revenue maximization.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2013