What is SnipSnap?
SnipSnap revolutionized the coupon industry by enabling users to scan and redeem any printed coupon directly from their smartphones. Since its debut at TechCrunch Disrupt in 2012, the platform has amassed over 4 million users across iOS and Android. These users have collectively saved more than 100 million coupons, translating to over $200 million in savings. The company has forged partnerships with over 50 retailers, facilitating targeted coupon delivery through its app and leveraging its proprietary Coupon Author platform. Originally incubated at DreamIt Ventures and participating in the Philadelphia Inquirer's Project Liberty Incubator, SnipSnap is headquartered in Philadelphia and operates as a wholly owned subsidiary of Slyce Inc., a leader in visual search technology.
How much funding has SnipSnap raised?
SnipSnap has raised a total of $2.4M across 2 funding rounds:
Angel/Seed
$1M
Debt
$1.4M
Angel/Seed (2012): $1M with participation from Knight Foundation, Dreamit Ventures, MentorTech Ventures, and Ben Franklin Technology Partners of Southeastern Pennsylvania
Debt (2013): $1.4M, investors not publicly disclosed
Key Investors in SnipSnap
Knight Foundation
Knight Foundation is a national foundation focused on investing in journalism, the arts, and the success of cities to foster informed and engaged communities.
Dreamit Ventures
Dreamit Ventures is an accelerator program that supports early-stage companies, particularly those emerging from university ecosystems, with a focus on information technology, marketing technology, and physical sciences.
MentorTech Ventures
MentorTech Ventures is a seed and early-stage venture capital fund that invests in companies connected to the University of Pennsylvania, often focusing on IT, marketing tech, and physical sciences.
What's next for SnipSnap?
The recent major strategic investment positions SnipSnap for accelerated expansion and enhanced service offerings. With a substantial user base and established retail partnerships, the company is poised to further solidify its market leadership. Future initiatives will likely focus on expanding its retailer network, refining its coupon authoring tools, and potentially integrating more advanced AI-driven personalization features to optimize user savings and retailer engagement. This capital infusion is critical for scaling operations and maintaining a competitive edge in the dynamic mobile commerce landscape.
See full SnipSnap company page
