Loop Commerce Raises $16 Million For Its “E-Gifting” Checkout Service For Online Retailers

Loop Commerce, a company that has developed an alternative checkout technology for e-commerce sites that allows customers to more easily buy gifts for friends without having to worry with product details like size or color – or even recipient’s shipping address – is today announcing an additional $16 million in new funding. The round, led by Houzz, Chegg, and Audible investor Oren Zeev, comes largely from the company’s previous investors and brings the startup’s total raise to date to $30 million.

As before, Loop Commerce focused on bringing in a number of strategic investors versus traditional venture capital.

Others in the round included family office Wicklow Capital; PayPal; Don Katz (EVP at Amazon); Mark Carges (former CTO at eBay); Dan Rose (Facebook VP, partnerships and strategy); Ken Seiff (former EVP e-commerce at Brooks Brothers); Michael Scharff (former SVP at Toys R Us and Best Buy); Chuck Geiger (CTO of Chegg, former CTO of PayPal); Roy Rubin (founder at Magento); Andrew Fine and Silas Chou (through Novel TMT), who has holdings in retailers including Michael Kors, Tommy Hilfiger and Ralph Lauren Europe; Dovi Frances (managing partner at SG); and Mohan Gyani (board member at Blackhawk Networks).

Launched publicly in the second half of last year, Loop Commerce today has over half a dozen large, enterprise customers including Macy’s, Lancôme, Urban Decay, Diane von Furstenberg, Johnny Was, Relax the Back, and Thomas Dean, and is in the process of onboarding other retailers it’s not yet permitted to disclose.

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