Pittsburgh-based Snap!Retail has raised $6 million in venture capital funding to further the development of products that give independent retailers a competitive edge against larger retailers online. The funding round was led by Sewickley-based Adams Capital Management.
A year old, Snap!Retail is boldly positioning itself to be the go-to company for national website retail, with easy-to-use, personable social media and electronic marketing tools. The investment will fund the development and launch of products including the flagship content management and marketing platform, TrafficBuilder, which offers a library of pre-created templates and images for vendors.
Another “secret, really cool” product is scheduled for release later this year, says Ted Teele, CEO.
“Retailers are working very hard to find their place in the world. Our mission is to help them do that by developing technology. No one wants to be a friend of Walmart, but everyone wants to support the local store.”
Snap!Retail (the 50-plus employees call themselves “snappers”) has more than 300 customers; the the online marketplace has 40,000 registered users and sold 700,000 wholesale products last year.
“We want to build a great digital marketing company in Pittsburgh,” says Teele, the firm’s fearless leader. “We want to be a fun company. We’ll know we’re a success when people start leaving great companies like Google to work for us.”
Source: Ted Teele, Snap!Retail
Writer: Deb Smit
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