Social Gifting App Maker Wrapp Closes On $15 Million In Series B Funding

There is a very real "crunch" going on at the Series A and Series B levels of funding, as a number of startups that launched to great enthusiasm a few years back are having trouble getting more support from investors nowadays. That's especially true for companies with a heavy focus on the social web. But Wrapp, the social gifting service, has shown that it is not another victim. Wrapp is announcing today that it has closed on $15 million in fresh funding to continue to grow its business, which is jointly based in Stockholm, Sweden and San Francisco, California. The round, which serves as Wrapp's Series B, included participation from existing Wrapp investors Greylock Partners, Atomico and Creandum, along with new investors American Express, Qualcomm Ventures, and SEB Private Equity. This brings the total amount invested in Wrapp to $25.5 million.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/a6PXEE7xLaQ/

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