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April 9, 2021: 12:00 AM EST
The New York-based build-your-own-snack-box service, whose business took a hit when the pandemic closed many offices, managed to stay afloat and even make a profit in 2020. It received a vote of confidence recently in the form of a $15 million Series A financing round led by Craft Ventures, with Luxor Capital also participating. The company will use the funding to continue growing its existing business, and to extend into gifting categories beyond chocolates, chips, hot sauces, and other areas like alcohol, meal kits, and non-food items. There’s also the possibility of expanding into areas like corporate gifting, marketing and consumer services, and analytics coming out of its sales.
Ingrid Lunden, "SnackMagic picks up $15M to expand from build-your-own snack boxes into a wider gifting marketplace", Tech Crunch, April 09, 2021, © Verizon Media
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