Startup: Giftpack
Vertical: eCommerce
Market: Global with offices in the US, Taiwan, Japan and South Korea
Fundraising: US$1.2M
Startup: Giftpack
Vertical: eCommerce
Market: Global with offices in the US, Taiwan, Japan and South Korea
Fundraising: US$1.2M
That’s where our portfolio company Giftpack comes in with its personalised gifting solution to take your client, employee and stakeholder relationships to the next level.
Solving pain points
In a distributed workforce, client and employee onboarding, management and engagement has become a challenge. That’s where Giftpack comes in by ensuring that gifts delivered are personalised and data can be used to track returns on investment and client conversions to support sales.
HR management are also key clients and growth opportunities as workplaces look to establish employee relationships and engagement during, Giftpack delivers a personalised solution at scale for large companies.
The Product
Giftpack is not only a gifting service for operation but a relationship CRM to grow your business faster, increase the retention of your workforce, clients, and of course, sales conversion.
The platform that can easily help you to identify the perfectly-matched gifts to every of your
recipients at scale from more than 3 million products with physical goods, e-vouchers, and experiences. Giftees can pick what they really love, enter shipping addresses and Giftpack takes care the global logistics with its ship anywhere capacity.
It is a changing product not only because it saves company time and resources, taking the guesswork and employee labor costs out of gifting, Giftpack also found satisfaction rates increase 92%.
A solid Revenue Model
SaaS pricing for gifting at volume. Giftpack’s business model is simple, it gets a 20% service fee from the client's budget, coupled with subscription and vendor commissions on each transaction. Giftpack’s target market for high end personalised client and employee gifting, not just standard corporate gifts also lends well to a higher average spend and hence increased revenue.
Traction & Market Opportunity
When Giftpack.ai joined Accelerating Asia in September 2021, they had 600 corporate clients, the number has now grown to over 900. With partners that include Forbes, Cisco, Google, Yahoo and more, Giftpack is capitalising on a company's needs to maintain client and employee relationships in a distributed workforce.
With a global market, Giftpack is projected to grow global customers by 4X, 10X monthly recurring revenue to over $400k and increase global suppliers to over 2000 in the next 12 to 18 months.
Giftpack is growing rapidly with more than 900 corporate accounts and an average of $42K average MRR, super small CAC with big names.
The existing traction firmly places Giftpack as a market leader in a global gifting market worth $62B, and an annual gifting market of $15.6B in the US with the compounded annual corporate gifting market growing at a CAGR of 8.1%.
A Team with a depth of experience
The team at Giftpack have a unique mix of technical and no-technical experience. With 10+ years in the global gifting businesses in the US, EU, Japan, Taiwan, China, and Korea, plus data scientists from Yahoo, Citibank, and marketing gurus from Facebook.
Accelerating Asia VC Fund II invested into ChatGenie which was selected for Cohort 5 of our flagship 100 day program. During our last recruitment round Accelerating Asia received 550 applications from 30 countries and we have with 2000+ startups per year.
To invest in startups like ChatGenie alongside us and learn more about our portfolio, reach out and tell us a little bit about yourself here.
Accelerating Asia invests in startups with scalable technology solutions and revenue generating business models that combine purpose with profit.
In making an investment decision, investors must rely on their own examination of startups and the terms of the investment including the merits and risks involved. Prospective investors should not construe this content as legal, tax, investment, financial or accounting advice.
