Mobile-based Warehouse Club Provides Free,
Fast Delivery with No Membership Fees
NEW YORK – Jan. 15, 2014 – Boxed, a mobile commerce company providing free, overnight shipping for warehouse club goods, announced today that it has added additional funding to its seed round, led by Greycroft Partners.
Greycroft joins previous investors Bessemer Venture Partners, ENIAC Ventures and Social Starts; the new raise brings the total funding to $1.5M.
“There is no other Web or mobile outlet today for a digital shopper to access this array of name-brand, warehouse club products,” said Kamran Ansari, who led the deal for Greycroft Partners. “The Boxed team has deep mobile product experience, and is approaching their commerce platform not from the angle of a traditional retailer, but from the perspective of successful mobile developers focused on user experience, social sharing, ease-of-use and other features that we, as investors, think are important.”
“We are excited about the added guidance we’re gaining by partnering with Greycroft, which has a strong record of working with mobile companies,” said Boxed CEO Chieh Huang. “The additional funding will allow us to scale further and provide an even more seamless, efficient shopping experience.”
Boxed is currently available nationwide, offering over 600 products with no annual membership fees. Former Zynga COO David Ko leads the company’s board of advisors.
Boxed is a mobile-commerce company that offers the discounts of warehouse club shopping with the convenience of doorstep delivery. Created by a team of mobile industry veterans, Boxed is dedicated to providing its customers with an accessible, hassle-free way to access warehouse club savings. With no annual membership fees and 1-2 day delivery, Boxed makes warehouse club shopping convenient. For more information, visit http://www.boxed.com.
Bethany Hill, TriplePoint PR for Boxed