• Sun. Nov 28th, 2021

Goody Gifts Mobile App Captures More Capital To Scale In Time For The Holidays – TechCrunch

ByCindy J. Daddario

Nov 16, 2021

Giving gifts isn’t always easy, but Goody wants to make it as easy as texting.

The Miami-based company launched in December 2020 with a curated list of gifts ranging from dresses and cookies to succulents and spa treatments. You can choose a gift without knowing what size is needed, and the recipient can choose the size or type, or exchange the gift for one of similar price.

Hello

Good gift app

Goody started out as a mainstream app and now also includes a website called Goody + for business-to-business gifts. Since the launch of Goody + in April, more than 1,000 companies have used the service.

The company is on a roll over the past 11 months, having raised its third round this year, a $ 15 million round in what co-founder and CEO Edward Lando called a “bullish” funding from SoftBank via its Fund for Latin America.

“After raising $ 13.1 million in Series A earlier this year with NEA and a $ 4 million funding round with Index, we’ve had a lot of lead,” Lando told TechCrunch. “We spent some money on the team, but we had a lot of interest, and the holiday season is important for ecommerce businesses, so we decided not to do a full Series B – we will do it next year – but take money on higher terms to help us grow.

Having now cashed in around $ 32 million in a short period of time, Goody is focused on expanding its existing products, features and services for corporate gifts, including future brand partnerships. Some of the new features include a fun way to claim birthdays in the app where users receive points.

The consumer app and desktop tool combined grew 5,000% in the second and third quarters of 2021, and Lando said the volume of gifts sent in September and October increased by 615%.

“We are delighted to invest in Goody,” said Shu Nyatta, Managing Partner of SoftBank Latin America Fund, in a written statement. “There is so much white space in corporate gifts and employee engagement. It’s exciting to see a team bring a delicious, consumer-grade approach to the space. We look forward to helping Goody expand their offering beyond the United States and into Latin America. “

Goody is the latest company to attract funding for gifts, particularly from the corporate side, which was estimated to have a market of $ 242 billion. So far this year, Reachdesk has pocketed $ 43 million, while Sendoso has grossed $ 100 million and Alyce has raised $ 30 million.

Lando is eager to bite into a bigger slice of this pie to propel Goody to “America’s premier employer engagement and happiness platform” by next year. In addition to Latin America, having grown up in France, he also plans to develop in other countries.


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