TroopSwap Raises $2.5M, Partners with LEGO
December 13, 2011
TroopSwap.com, a DC-based startup we showcased at our Tech Cocktail DC Summer Mixer in June, just announced the closing of a $2.5 million round of equity financing. This follows the $925k they raised from angel investors in July.
This fast-growing ecommerce platform (30,000 members since its launch in May – and counting!) delivers daily deals exclusively to veterans, service members and military dependents. This morning, they started offering exclusive discounts on LEGO® products – perfect for holiday shopping!
I spoke briefly with Founder and CEO Blake Hall about the big news, and he said,
We are incredibly excited to have the opportunity and the resources to make a difference for the military community. Our partnership with LEGO demonstrates that wonderful brands who don’t typically offer discounts will offer discounts for veterans, service members and military spouses. The toys themselves are wonderful but what they represent in terms of acknowledging that military life is hard and worthy of recognition is what makes us so proud to work with LEGO.
The funding will support the development of technology that will allow companies to provide military discounts online for the first time. Investors include McCombs Partners; Blu Ventures; Jay Campion, General Partner at Access Ventures; Roy Terracina, Owner of Sunshine Ventures; Marty Abbott, former Army Officer and CTO of eBay; Larry Cochran, Chief Executive Officer at IAS Claims,;and Kelly Perdew, Chief Executive Officer at TargetClose and winner of Season 2 of NBC’s The Apprentice.
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