Press release published by: https://www.retailtouchpoints.com/
Source URL: https://www.retailtouchpoints.com/features/financial-news/ai-powered-neighborhood-gift-network-secures-16-5-million-in-new-funding
Nift, a start-up network designed to help SMBs match neighborhood businesses with local customers by leveraging AI machine learning algorithms, has raised $16.5 million in Series A funding from Spark Capital, Foundry Group and Accomplice.
The new capital will fund Nift’s plans to expand nationally. The company will open five new markets and intends to increase its team by 400% in the next 12 months. With the new infusion of capital, the company aims to fortify a community of local retailers against Amazon.
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