Shopmium raised $2.1 million from Accel Partners and ISAI, according to a story published on TechCrunch. The shopping service distributes mobile coupons to smart phones. The story is below.
Accel Puts $2.1M In Mobile Coupon Startup Shopmium
Mobile shopping service Shopmium has raised $2.1 million from Accel Partners and ISAI. Launched in September 2011, France-based Shopmium enables large consumer brands to engage directly with users through special offers and coupons pushed to their smartphones. The service allows users to discover new products that are either free or with a significant discount and buy them in their usual retail stores.
Drawing on the virality that mobile shopping startup ShopKick has seen in the U.S., Shopmium says its value is in providing a premium advertising space for brands that also drives traffic to retail stores with sales that can be measured by the redemption of coupons.
The startup saw 100,000 downloads of its iPhone and Android applications in the first few weeks following its launch in France. And Shopmium has run deals for brands such as Minute Maid, Pepperidge Farm, Colgate and Evian.
Shopmium will use the new funds for customer acquisition, to increase its commercial outreach internationally and expand the service to new retail verticals.