MADISON, WI – Gravy, a provider of an online shopping game platform has raised $2 million in Series III seed venture funding from Rock River Capital Partners and Magic Stone Alternative Investment.
The December 7 deal positions the Madison-based company for increased growth and scale.
The company’s gaming platform is a live shopping game show that users can play on their phone each night at 8:30 p.m. EST. The app enables users to compete for cash prizes and score deals on featured products, as well as raise money for charitable causes.
Product offers begin at full price, and prices drop every second until the hidden quantity of the product sells out. Gravy donates a portion of purchase proceeds to a charity the user selects from Gravy’s list of charity partners.
Brian Wiegand, Craig Andler, and Mark McGuire co-founded the company in 2016.
“We’re trying to create more of an interesting media model where we’re gamifying the shopping experience through branded experiences,” said Andler. “Some people have said it’s a bit of a Price Is Right meets QVC.” Andler added, “When users make their purchase, they have the ability to direct a portion of their payment to [a charity of their choice from our available options]. In some cases, it’s thousands of dollars that we can raise pretty quickly.”
Visit http://siliconprairienews.com/2018/07/gravy-turns-shopping-into-an-interactive-gaming-experience/ and www.gravy.live to read more about this company.