&Open raises $26m in Series A funding led by Molten Ventures to expand its corporate gifting platform.
The Dublin-based startup secured backing from Molten Ventures, First Round Capital, LocalGlobe, Tribal VC, and Middlegame Ventures.
≈ £21.2M at $1 = £0.8162 on 22 Jun 2022
&Open operates a software platform that helps organisations manage and scale corporate gifting programmes with curated items.
Dublin-based &Open has secured $26m in Series A funding to expand its corporate gifting platform and support the launch of its new on-demand service. The round was led by Molten Ventures, with participation from First Round Capital, LocalGlobe, Tribal VC, and Middlegame Ventures. The fresh capital will enable the firm to scale its consumer-grade software and widen its market reach to smaller enterprises.
Founded in 2017 by Ciara Flood, Jonathan Legge, and Mark Legge, the company aims to replace thoughtless promotional merchandise with carefully sourced items. The latest injection brings total capital raised by the enterprise to $33.2m following strong growth in annual recurring revenue and client acquisitions over the past year.
Investor perspective
"We’ve been highly impressed with how the team have built out a global platform that makes carefully crafted, sustainably-sourced and beautiful gifts more accessible to people and companies across the globe. Jonathan, Ciara, Mark, and the team approach the business in the same way they do gifting — with immense thoughtfulness, attention to detail, and a focus on how to make a difference."
Nicola McClafferty
Partner, Molten
Use of funds
- 01Expand into international markets
- 02Continue product development
