FEELTER CLOSES SERIES A, BRINGING TOTAL COMPANY FUNDING TO $4 MILLION
On Heels of Winning Global Startup Competition, Company Appoints Executive Chairman to Become Major Player in Retail Space
Tel Aviv, Israel, December 17, 2016 -- Feelter, a retail technology company that organizes social media and curates product insights for consumers online, announced today that it has closed a $2M Series A round of funding, bringing the startup’s total funding to $4 million. The investment is led by Will Graylin, Global Co-General Manager of Samsung Pay and founder of LoopPay. Feelter will use the new funding to create a U.S. base of operations, grow its team and expand its client base.
In addition, Feelter announced the appointment of David Chang as Executive Chairman. Chang is an Entrepreneur-in-Residence at Harvard Business School and previously led the PayPal Boston office. At Feelter, he will focus on forming strategic partnerships, leverage his expertise and industry relationships, and grow the company scalably. He is an influential entrepreneur with operating experience at five startups that have been acquired and is an angel investor in 40 startups. Chang is a winner of the Boston Business Journal’s “Power 50” and Bostinno’s “50 on Fire,” among others. He received a B.S. in Computer Science from Cornell University and an MBA from Harvard Business School.
Feelter culls product reviews from social media and makes them accessible to consumers. By providing internet retailers with an embeddable widget that assigns each product, such as hotel rooms, cars or electronics a quality score of 1-10, Feelter aims to make shopping online more transparent and to empower customers with information to make better decisions.
The company was founded in 2014 by Smadar Landau, an entrepreneur with broad experience in business development, international marketing, fundraising, and executive management of technology ventures.
“Shopping online is complicated. Many reviews are fake, lots of products look the same, and the list goes on. Consumers are faced with many options, but often find it hard to choose the right product and trust the reviews,” said Smadar Landau, founder and CEO of Feelter. “Social media is flooded with information, from millions of people who have purchased products online, but the reviews are scattered in the cybersphere. Feelter organizes this content, helps retailers increase engagement and time spent on the website, and makes shopping online a much better experience.”
Feelter is the only solution for online retailers that provides an omnichannel, customer-centric reviews tool by solving a major breakdown that occurs when consumers shop online. Focusing on the customer experience, Feelter’s algorithm culls product, hotel and automobile reviews that are posted online via text, photos and videos, and analyzes sentiment. The company partners with major online retailers and provides a review feature and score that is embedded on the partner’s website and easily accessible for consumers. Consumers benefit from the additional insights, save time, and are happier with their purchases, and websites benefit from higher engagement and conversion rates. Feelter was recently named the winner of GMIC’s G-Startup competition in Israel, and the winner of the global competition in Silicon Valley in September 2016, where it was awarded a cash prize of $250,000. The company has raised $4 million to date and is based in Tel Aviv, Israel. Feelter: the truth sells.