Laura Jennings, CEO and founder of Knack. (Knack Photo)
Here’s our latest rundown on recent startup investment news in the Pacific Northwest.
— Online gift-giving startup Knack announced a $3.5 million Series A investment round led by Second Avenue Partners. As part of the deal, Nick Hanauer, Second Avenue’s co-founder and a champion of economic equity, will join Knack’s board of directors.
Other investors include Sugar Mountain, the food company founded by Kurt Dammeier of Beecher’s Handmade Cheese, and unnamed angels. The round will support investments in infrastructure technology.
The gist: Seattle’s Knack offers curated, attractively packaged gift boxes. Shoppers pick a price point and a theme (staycation, congrats, holidays, welcoming a baby, etc.) or create a custom-built box. Some items come from companies that are women-led, owned by people of color or highlight sustainability.
Immersive online giving: The startup last week released a new product, Knest by Knack. The tool allows gift givers to build an online page with photos, videos, logos and messages that pair with a limited selection of Knack items that a gift receiver can choose from. The company targets individual, business and corporate giving.
The team: …read more
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