New York-Based Giftpack AI Secures $4.3M in Seed Funding to Revolutionize Corporate Gifting
The raise will further Giftpack’s mission to innovate gifting services and enhance platform functionality to help companies get gifting right
NEW YORK, Sept. 21, 2023 Giftpack AI, a leading AI-powered corporate gifting platform, today announces the completion of a seed round led by Chang Hai Lin, bringing the total raised to $4.3M to date. The round also included participation from Tech Coast Angels, Chih Heng (George) Yeh, Christopher Yang, Dr. Mike Cooney. Earlier investors include Accelerating Asia, Digital Garage Inc., Umami Capital (led by James Lu Morrissey), Shao-Hua (Nick) Wu, Hungwei (Teddy) Chen, Alex Miller, Draper Startup House, Katya Kohen, and Axxel Marketing.
With the holiday season fast approaching, organizations around the world are actively planning corporate gifting initiatives (September – October). This investment allows Giftpack to enhance its platform, grow its offerings and push innovation through research and development. Leveraging its smart visual engine, Giftpack is meeting clients’ gifting demands with a supply chain fit for a global market. In addition, this investment will advance the integration with HRIS, Employee Recognition Platforms, CRMs and more to make daily corporate gifting needs easier and faster for companies implementing employee recognition initiatives.
Currently, companies are spending more than $100,000 on gifting annually, many of which are getting gifting wrong and wasting money on gifts employees and clients don’t want – and have no long-term impact. Giftpack is revolutionizing corporate gifting, helping businesses of all sizes including Google, J.P. Morgan Chase, Meta, Zappos and more to send individually tailored gifts to thousands of clients and employees around the world in seconds and deliver gifts that resonate.
“This infusion of capital signifies a resounding vote of confidence from investors as we enter a pivotal moment for Giftpack AI,” says Archer Chiang, Founder and CEO of Giftpack. “We are redefining the gifting landscape and poised to shape the way people connect and express their emotions through thoughtful, personalized gestures. The future holds immense promise, and Giftpack is ready to embrace it wholeheartedly.”
From ideation to delivery, Giftpack’s hassle-free gifting solution is easing the burden and time commitment on companies. In comparison to a traditional hand-picked gifting process, Giftpack’s platform accelerates the employee gifting process by 95%. Significantly reducing the workload and providing valuable insights to track the gifting progress, recipient interactions, and key return-on-investment metrics.
Since its launch in summer 2020, the company has delivered over 50,000 gifts to employees / clients at more than 1,400 companies across more than 220 countries – and boasts a 98.6% gift satisfaction rate according to the feedback of gift receivers. Giftpack’s technology analyzes the digital footprint of any individual to suggest the most suitable gifts, disrupting the broader industry of gift-giving and setting the precedent for personalization. It sets the stage for a new era of gifting experiences, where technology and creativity converge to provide unique and heartfelt gestures.
“I am enthusiastic about supporting a company at the forefront of modernizing gifting through artificial intelligence,” says George Yeh, Giftpack Investor. “With the ongoing AI advancements and rise of personalized shopping, this company’s ability to forge meaningful connections through technology upgrades gifting while pioneering an inventive path. I’m eager to promote Giftpack’s growth and success spearheading this transformative AI gifting journey, with an evolved leadership approach to match its trailblazing aims.”
The companies using Giftpack are feeling the impact of a tailored versus generic gifting strategy. In fact, clients have experienced a 57% boost in employee morale and engagement from unique gifting experiences and a 31% increase in talent retention. Giftpack is leading the way, redefining traditional gifting norms, particularly in the workplace, by setting the standard of delivering more memorable and personalized experiences.
For more information, visit https://giftpack.ai/
About Giftpack AI
Giftpack AI is an AI-powered business gifting SaaS platform that streamlines the gifting process. Helping customers create meaningful connections, retain employees, and curate VIP clients, the brand helps businesses send individually tailored gifts 95% faster than traditional methods. Giftpack AI’s audience consists of HR managers, marketers, and executive assistants, with some clients in the brokering, business development and project management sectors.
SOURCE Giftpack
