Mobile Retail Savings App Shopular Raises $6.4M From Sequoia Capital
Innovative smartphone app helps shoppers save money while increasing foot traffic to retailers
PALO ALTO, Calif., Sept. 26, 2013 /PRNewswire/ -- Shopular, the leading mobile app for saving money in stores, today announced it has partnered with Sequoia Capital and received $6.4 million in Series A financing. Tim Lee will represent Sequoia on the company's board of directors. Shopular previously raised a seed round from Y Combinator and reputed angel investors including Adam D'Angelo.
"Everyone loves a deal, but it's still far too hard to find the one you want when you're out shopping," said Navneet Loiwal, CEO, Shopular. "We give people the right information at the right time so they can save a ton of money and be more efficient shoppers." Shopular is ranked by Time Magazine among the 50 best iPhone apps of 2013.
Shopular makes it effortless and fun to save money. Shoppers are sent personalized coupons and sales for their favorite brands when they're at a store or mall. No longer do shoppers need to worry about missing out on a great deal. "Our technology creates a magical experience when savings pop up at the perfect moment," says Loiwal.
"E-commerce gets a lot of hype but the fact is that the majority of purchases still occur at brick and mortar stores, which have been largely untouched by the smartphone revolution," said Tim Lee, partner, Sequoia. "Shopular has the team, the technology and the loyal customers necessary to transform the way we shop."
"Mall of America is the largest mall in the country, one of the top tourist destinations, and the most recognizable brand in physical retail," said Mark Ghermezian, a member of the family that owns the Mall of America. "We have been looking for a solution like Shopular that would combat showrooming and increase foot traffic for our retailers and we are excited to see their tremendous progress since the early days."
Shopular is aggressively expanding its team. Interested applicants can apply here: www.shopular.com/careers.
Shopular's mission is to create the most delightful and effortless experience for saving money while shopping. Available on iPhone and Android, the innovative mobile app notifies users of personalized sales and coupons when they are near a store or mall. Shopular is the highest rated app in its category and ranked by Time Magazine among the 50 best iPhone apps of 2013. Shopular is founded by engineers from Google, Shopkick and Loopt and backed by Sequoia Capital and Y Combinator. See our 1-minute video and more details at www.shopular.com
About Sequoia Capital
Sequoia Capital helps founders turn imaginative ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs," the Sequoia team has worked closely with legendary founders such as Steve Jobs of Apple, Larry Ellison of Oracle, Sergey Brin and Larry Page of Google. Sequoia is now helping the next generation of innovators build the lasting companies of tomorrow.
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