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The company wants to help entrepreneurs around Boston share their best loyal customers and is betting a $30 gift card will do the trick. Forty-eight percent of Americans are employed by a small business. There are more than 639,000 small companies in Massachusetts. And one Boston-based startup wants you to learn a lot more about them.
Elery Pfeffer, the CEO of local start-up Nift stopped by to explain how his company helps small businesses compete against Amazon.
Nift, a start-up network designed to help SMBs match neighborhood businesses with local customers by leveraging AI machine learning algorithms, has raised $16.5 million in Series A funding from Spark Capital, Foundry Group and Accomplice.
Nift, a Boston, MA-based provider of an AI powered platform for main street merchants to join forces, raised $16.5M in Series A funding. Backers included Spark Capital, Foundry Group and Accomplice.The company intends to use the new capital to expand nationally, with up to five new markets, and increase its team 400% over the next 12 months.
Nift, which is giving local businesses a new way to promote themselves, has raised $16.5 million in Series A funding.
The businesses that work with Nift (the name is short for "neighborhood gift") can give special gift cards to their best customers. Those customers enter their codes on the Nift website, answer a few questions and can then choose from two free gifts from other local businesses.
Boston-based Nift Networks Inc. has raised $16.5 million to expand its new type of customer discount program — one that aims to help local businesses help each other — to cities around the country.
Boston-based startup Nift has raised $16.5 million in a Series A to fund its platform for “business gift cards,” a way for local businesses to drive customer engagement by providing gift cards to their consumers.
Today, Nift, announces $16.5M in Series A funding from Spark Capital, Foundry Group and Accomplice. The platform has seen unprecedented success in Boston, Providence and Washington, D.C., and with the new capital, Nift plans to expand nationally, with up to five new markets and an increase in its team of 400 percent over the next twelve months.
Chances are, if you're a small business owner in Jamaica Plain, you've referred customers to other small business owners in the area. Let's face it: Small shops simply don't carry every item a customer wants. While this is a loose “partnership,” another way that our business is supporting other local businesses is through Nift. The purpose is simple: Help neighborhood businesses get customers through the door. I now hand out Nift cards as a way to thank my best customers for shopping at my store. But I'm doing more than just thanking them, I'm encouraging them to visit other local businesses that are part of the Nift network. They get a free gift to experience another Jamaica Plain business, and they'll likely tell their friends. The result? More sales from local customers, and more money staying in our neighborhood.
Southie has a wealth of small business owners who not only work here, but also live here. We all know that our small businesses are responsible for two-thirds of all new jobs. And study after study has shown that when you shop locally, nearly one-half of your spending stays here. Small businesses are the lifeblood of Southie and, as small business owners, we all want to get new customers in the door.
Ever walk down a street you've walked multiple times and suddenly see a shop for the first time, wander in, discovering the local business is perfect for you - only to find out it's been there for years? Brookline resident Elery Pfeffer thinks he has a solution to making those local joints stand out a bit more - with his company "Nift."
Pfeffer moved to Brookline four years ago, and when the marketing company he worked for was sold to a bigger company, he took some time off and discovered there are a number of smaller businesses around town that should get more recognition.
"As I was getting to know the area, I kept discovering these fantastic local businesses," he said. "There have been some that I've passed by for years that I've never stepped in that are perfect for me and my kids."
Nift, a Cambridge startup that helps small businesses send customers to each other, has raised $3 million in seed funding. With many small businesses struggling to stay afloat against e-commerce and big-box stores, Nift has created a network for small businesses to send each other new customers.
Nift, the first invitation-only network that helps neighborhood businesses bring the right new customers through the door, today announced that it has raised a $3 million round of venture capital funding. The seed round, led by Spark Capital and Accomplice, will enable Nift to expand its network of local businesses and continue enhancing the technology that powers it.
This weekend brings Small Business Saturday, when local shops bid for holiday dollars not already spent at mall- and chain-heavy Black Friday sales, and two Cambridge startups are supporting the effort. (A marketing effort called Plaid Friday also attempts to subvert Black Friday and send shopping dollars to small stores.)