Today Irish startup &Open has announced raising around €5.9 million to make it easier for brands to send carefully curated gifts to customers to boost loyalty and engagement.
The round was led by First Round Capital and LocalGlobe, along with participation from angel investors such as Andrew Robb (Farfetch), Des Traynor (Intercom) and Liam Casey (PCH). The fresh seed funds will be used by the startup to scale up in Europe and the US.
Launched in 2017, Dublin-based &Open was founded by Ciara Flood, former buyer at Net-a-Porter and part of the founding team at Mr Porter, together with her husband Jonathan Legge, and her and brother-in-law, Mark Legge. The two brothers are also previous founders of gift and homeware business Makers & Brothers. Currently &Open delivers more than 3,500 gifts every week and already nabbed clients such as Airbnb, Spotify, and Peloton.
Founder Jonathan Legge said: “Customers will choose brands who prioritize care and connection over transactional relationships. A thoughtful gift can make all the difference — both for a customer’s experience and their advocacy and loyalty to a brand.”
Hayley Barna, Partner at First Round Capital, said: “Gone are the days of relying on a points-based loyalty scheme to keep your customers engaged and happy. Brands increasingly need to work harder to retain customers and &Open provides an elegant solution to this conundrum.”