Paris-based mobile “private-promotions” service Shopmium has received a $5.6m Series B investment round from Ventech, Accel Partners and ISAI. The funding will be used to aid its international expansion.
The startup works by providing customers with mobile coupons or special offers, which allows companies to entice customers with free or heavily discounted products. This is the second round of investment from Accel Partners and ISAI after they led a funding round in December 2011. It’s a first-time investment in Shopmium for Ventech, which led the latest round.
Eli Curetti, co-founder and CEO, said: “Shopmium is the first digital media platform with a measurable ROI for brands… Our system is very rich in data and allows a fact-based product evaluation in only a few days. With more than a million users in 2013, we are at a turning point in our growth.”
Launched in 2011, the app is available on Android and iOS and claims it has delivered more than 140 campaigns. It’s competing with a couple of other France-based startups including social shopping app Skerou, which recently raised €1.75m, and Prixing – a price comparison tool.
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