Token secures $2.5m funding and launches gift-giving app

Ben Heathcote

In App Deals. April 28, 2017

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Token has launched its premium gift-giving mobile app and secured $2.5 million in seed funding in a round led by Upfront Ventures. Other investors include Slow Ventures and Human Ventures.

The New York-headquartered company’s free iOS app combines artificial intelligence with personal curation to “help shoppers find the perfect gift”.

Using the app, users can describe their needs, such as gift occasion, who it’s for, style and budget. The company’s team of gift curators, along with its proprietary artificial intelligence (AI) platform, are then able to make recommendations and deliver tailored presents.

Jonathan Jarvis, Token CEO and co-founder, said:

Jonathan Jarvis

“Gift-giving in the US is a $131 billion dollar market, yet until now, the experience has been overwhelmingly painful and time-intensive.

“Token is the first platform that brings end-to-end assistance to gift giving — from reminding you to send the gift in the first place, to selecting the right item, to delivering it in beautiful wrapping. Leveraging our talented gift curators and specialized A.I. platform, we make it easy to give something that’s creatively thoughtful, unique, and unforgettable.”

Since rolling out in beta a few months ago, Token claims to have seen 30% conversion rates from consumers, most of whom used the app to handle both their holiday and professional gifting. Find out more by visiting the company’s website here.

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