Santa Monica-based tech startup Tapcart Inc., which helps businesses set up mobile shopping apps, completed a $4 million seed funding round led by venture firm Greycroft.
The SaaS platform works with businesses to integrate their shopping applications with both Google and Shopify, Tapcart announced in a press release Tuesday (July 23).
Tapcart offers users a marketing platform and additional selling features, including augmented reality browsing, try-ons and interactive push alerts to keep users coming back to the marketplace.
The firm will use the new funds to fuel business growth, develop advanced mobile marketing tools and expand its offering to other eCommerce platforms.
Prior investors, including Amplify.LA, Act One Ventures and Luma Launch also participated in the funding round.
“The Tapcart platform enables eCommerce brands to launch beautifully designed mobile apps at a fraction of the price and within a fraction of the time it would normally take with an outside development team,” said Greycroft Co-Founder Dana Settle.
Founded in 2017 by mobile app veterans Eric Netsch and Sina Mobasser, Tapcart aims to make it easier for brands to increase engagement and generate more sales. In as little as two weeks, eCommerce stores can design and launch an on-brand mobile shopping experience, the statement said.
“We understood early on that eCommerce brands need a single platform that is intuitive, user-friendly and powered by unique features that drive conversions,” said Mobasser. “Our drag-and-drop mobile app builder, real-time app updates, interactive push notifications and 3D shopping functionality give brands all the tools they need.”
The platform economy is being transformed by increased demand for faster payments bolstered by mobile usage while accommodating customer expectations for personalized and customized offerings. Shopify is expected to generate more than $1.5 billion in revenue this year, and its revenue growth — as well as its execution — is still an attraction for investors. The company hasn’t missed any sales estimates in the 16 quarters that it has reported results as a publicly-traded company.
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