Pickie Raises $1 Million to Fuel Expansion, Following Success at TechStars Spring Demo Day
Pickie, a recent graduate of the New York TechStars program, today announced it raised $1 million in venture funding. The investment, led by DFJ Gotham Ventures with participation from Betaworks, Liberty City Ventures, Bertelsmann Digital Media Investments, MESA+ and angel investors including Jon Steinberg, David Tisch, and Steven Rosenblatt, represents the company's first institutional funding.
Pickie, designed for use on the iPad, is a shopping app that is part magazine, part catalog. All the products featured in Pickie are buyable, and the products and content shown are tailored to each person's interests and tastes. Each person who uses Pickie will access a unique, automatically-customized experience that takes into account their personal style, their favorite brands, and the latest trending products from across their favorite retailers and social feeds.
“Social commerce is a big opportunity and there are a lot of smart folks working on figuring out how we will shop,” explained Danny Schultz, a founding partner and Managing Director of DFJ Gotham. “Sonia and her team are an exceptional group of people – the right mix of experience, skills and deep consumer insight to crack the code. Discovery and purchasing through Pickie is easy and delightful.”
“We spend a lot of time at Betaworks thinking about how data might be used to inform social discovery,” stated Nicholas Chirls, an investor at Betaworks. “We love how the Pickie team is applying this method to commerce, and believe there is a huge opportunity to tie this to a consumer's purchasing intent.”
“We are thrilled to have the support of investors of the caliber of DFJ Gotham, Betaworks, and the others who participated in this round,” said Sonia Sahney Nagar, Pickie's co-founder and CEO.
Started in 2012 by Sonia Sahney Nagar, formerly of Amazon, and two technical founders Abhijit Rao and Ryan Weber, Pickie provides users with a a unique, automatically-customized shopping application that takes into account their personal style, their favorite brands, and the latest trending products from across their favorite retailers and social feeds.
About DFJ Gotham Ventures
DFJ Gotham Ventures (www.dfjgotham.com) invests in technology companies that are revolutionizing their industries. DFJ Gotham partners with extraordinary teams of entrepreneurs to build strong and successful businesses that make a huge impact in their markets. DFJ Gotham takes pride in being an active partner, leveraging its experience, knowledge and relationships to provide substantial value to its portfolio companies. DFJ Gotham Ventures is proud to have backed such category leaders as Massive (acquired by MSFT), XOsoft (acquired by CA), Ingenio (acquired by AT&T), Pivot (acquired by the CME Group), Single Platform (acquired by Constant Contact), Drop.io (acquired by FaceBook), and Mimeo.com, among many others. For more information, please visit www.dfjgotham.com.
DFJ Gotham Ventures
Daniel Schultz, 212-279-3980