Snappy gets Covver to give away swag as it seeks to grow players

It is now accepted that customers and employees who receive corporate gifts appreciate the brand more, and do not waste a lot of money. The market for this has exploded. One player in the market, from New York Snappywhich has raised more than $125 million to date, is now earning A veila corporate gifting platform. The terms were undisclosed, though TechCrunch understands the deal involves a mix of cash and shares.

Covver was previously backed by TLV Partners, based in Tel Aviv, Israel, and has raised $7 million to date. It specializes in swag-based businesses, and also provides policy-based employee recognition solutions. It also personalizes the product automatically. So for example, someone can send me my job title (Editor-in-chief) and the machine will automatically create a guide with my job title, no graphics required.

In an interview with TechCrunch, Hani Goldstein, Co-Founder and CEO of Snappy, said that Covver’s expertise in terms of systems and corporate solutions complements Snappy’s ability to provide gifts of this type, and that the platforms can be connected, Cover is getting better. “Swag Channel” on the Snappy platform.

“What Covver did was really amazing for an AI-based game and they do it very well and smartly,” he said. “They were focused on swag. So we saw if this solution could take all the magic and bring it into the integrated world where we give gifts well, to be the leading platform in the world.”

“There are $50 billion worth of gift cards, in the US alone,” he added. “The world of corporate gifts is about $260 billion. But people don’t know what to buy, so they use gift cards. So that gives them a choice, right? But it’s very transactional. It’s like ‘Hey, Mike, here’s 100 bucks!’ But I want to make you happy. So what we want to do is make the gift easy, but still keep it magical and personal.”

In a statement, Roee Hemed, CEO of Covver said: “By joining forces with Snappy, we are opening up new opportunities for our customers, including additional product solutions and the ability to use Snappy’s trusted platform.”

Snappy was first introduced on TechCrunch back in 2016 as a consumer program, and it has disrupted its progress until it raised from investors including Notable Capital, Hearst Ventures, Qumra, 83 North, and other VCs.

It claims to have 47% of Fortune 100 companies as clients such as Microsoft, Amazon, and Comcast.

However, it has its competitors. Transportation has raised $152.7 million to date, Post he was promoted $46 million, is a corporate gifts platform based in Dublin &Open he was promoted $26 million in 2022.