Employee Recognition and Incentive Startup Snappy Closes $10 Million Funding Round

Employee recognition and incentive startup Snappy App Inc. announced on Tuesday that it has closed a $10 million funding round, led by Israel-based venture capital firm 83North Ltd. with participation from Hearst Ventures.

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Founded in 2015 and based in New York, Snappy lets employees choose gifts from a collection of personalized options such as cooking and fitness classes, and travel getaways, and also popular items like Amazon’s Echo Dot or drones. Gifts are delivered via email or text.

Snappy’s platform combines traditional gifts with the choice and simplicity of a gift card, states Snappy CEO and Co-Founder, Hani Goldstein. Managers see the immediate impact through a thank you note feature built into the platform, and only pay for the gift that their employee selected.