US-Israeli gifting services provider, Jifiti, nets $3.3M funding round from Liberty Israel Venture Fund and Schottenstein Store Corp
Jifiti has announced that it raised a $3.3 million round from existing investors and the Liberty Israel Venture Fund, a subsidiary of the Liberty Media Corporation. Jifiti’s existing investors include the Schottenstein Store Corporation, Jesselson Investments Ltd., the Simon Property Group and Stephen Milstein, founder of Burlington Coat Factory (acquired by Bain Capital).
Jifiti’s no-integration gifting solutions offer retailers and brands advanced monetization through innovative gifting services in-store and online. These solutions include a unique ecommerce gift checkout that not only maximizes conversion but generates incremental traffic; a gift market for non-commerce focused sites; and a turn-key gift registry system which is disrupting the gift registry market by allowing any retailer to offer a state-of-the-art gift registry platform with zero integration.
Liberty Israel Venture Fund, LLC (“Liberty Israel”), a subsidiary of Liberty Media Corporation (NASDAQ: LMCA, LMCB, LMCK), invests primarily in Israeli technology start-up companies. Evite Inc., the global leader in digital event invitations and a subsidiary of Liberty Interactive Corporation (NASDAQ: QVCA, QVCB, LVNTA and LVNTB), and Jifiti, recently launched a strategic partnership enabling users to send gifts directly from the Evite platform.
Jifiti and Evite’s partnership is positioning Evite as a new leader in digital gifting, in addition to event invitations and event planning tools. By implementing Jifiti’s gifting technology, Evite users can send e-gifts from leading retailers directly from an event invitation or the Evite Instant Gifts page.
The funds raised in this round will fuel Jifiti’s growth and allow for the expansion of its teams in the US and Israel along with additional partnerships with leading retailers and platforms.
Jifiti’s gifting solutions have been implemented by clients such as IKEA, DreamWorks Animation, Sears and Evite.com. Gifting partners include over a hundred leading retailers including Barnes & Noble, Land of Nod, Brookstone, Nike, Toys R Us, DSW, GameStop, Gap and Amazon.
Motti Lichtenstein of the Liberty Israel Venture Fund, and Jonathan Schottenstein, CEO of Value City Furniture, a Schottenstein Store Corporation retailer, will be joining the Jifiti board.
“We are proud to have the Liberty Israel Venture Fund join as an investor, along with all our existing investors who have demonstrated their confidence in Jifiti by joining this round. We have much more in the pipeline and we all see a bright future in our innovative gifting solutions said Yaacov Martin, Co-Founder and CEO at Jifiti. “We realized immediately that we have a shared vision with the leadership team at Evite to offer frictionless gifting to users directly on an Evite invitation or any of Evite’s event planning tools”
Motti Lichtenstein, Member at the Liberty Israel Venture Fund: “We see tremendous growth potential and value add for Jifiti’s next generation e-gifting solutions and registry platform. We look forward to working together with the Jifiti team.”
Jifiti’s solutions include a unique ecommerce gift checkout that allows shoppers to send any item as a gift without knowing a shipping address or selecting product details (such as size, color or style). The recipient makes all those decisions when redeeming the gift online or in-store. The gift checkout substantially increases checkout conversions and eliminates gift returns.
Jifiti’s proprietary gift market allows users to send gifts from leading retailers using its unique gift checkout on any website.
Jifiti’s second gift solution is turn-key gift registry system that allows any retailer to offer a state-of-the-art gift registry platform with zero integration. The platform includes mobile apps (iOS/Android), web, mobile web and in-store kiosks. The system requires no system integrations and enables any retailer to take part in the incredible gift registry market by launching their own system within a very short amount of time.
To date, Jifiti has raised $7.1m.
About Liberty Israel Venture Fund
Liberty Israel Venture Fund, LLC (“Liberty Israel”), a subsidiary of Liberty Media Corporation (NASDAQ: LMCA, LMCB, LMCK), invests primarily in Israeli technology start-up companies. Liberty Israel focuses on a broad range of technology applications relevant to the media and telecommunications industry. Recent investments by Liberty Israel include companies focused on cyber-security, e-commerce, the internet-of-things and the connected-car. Liberty Media Corporation operates and owns interests in a broad range of media, communications and entertainment businesses, including its subsidiaries SiriusXM and Atlanta National League Baseball Club, Inc., its interest in Live Nation Entertainment, and minority equity investments in Time Warner Inc. and Viacom. For more information regarding Liberty Israel, please email email@example.com. For inquiries regarding Liberty Media Corporation, please contact Courtnee Ulrich at 720-875-5420.
Evite (http://www.evite.com) is the leading digital service for bringing people together. With a wide
array of free, easy-to-use invitation designs and inspirational party-planning tools, the company has sent over 2 billion event invitations in its history, enabling approximately 3 billion unique face-to-face connections. Evite makes getting together effortless and more memorable for its 100+ million annual users, sending 20,000 invitations every hour and handling hundreds of millions of RSVPs every year. Launched in 1998, Evite is headquartered in Los Angeles and is a subsidiary of Liberty Interactive Corporation, attributed to the Liberty Ventures Group (NASDAQ: LVNTA, LVNTB).
Source: Jifiti Press Release