The recent funding helps Roozt scale to achieve its market objective to be the premier destination for Gen Y online shopping
El Segundo, CA (PRWEB) April 22, 2011
Roozt.com, a mainstream Internet platform designed to connect cause-conscious brands with Gen Y online customers, completes seed funding from undisclosed angel investors, raising approximately a quarter of a million dollars.
Roozt received additional strategic investment from Causecast, a leader in the cause-integration space for the last 3 years, representing clients such as Virgin Mobile, AARP, Toyota and Paramount, as well as powering the cause-related Impact section for The Huffington Post. Causecast's investment in Roozt bolsters the fast-growing trend of cause-commerce and delivering customers a more socially conscious shopping experience.
“The recent funding helps Roozt scale to achieve its market objective to be the premier destination for Gen Y online shopping,” says CEO and Co-Founder, Brent Freeman. “Roozt, and our unique ecommerce platform that serves both businesses and customers, is primed for scalable growth that will have a large market impact. We’re enthusiastic about the opportunities the partnership with Causecast will bring,” he says.
Simultaneously, Roozt has added a new give back feature embedded in its commerce platform that leverages every purchase to directly benefit specific humanitarian or environmental causes. The "Roozt Cause" program marks the beginning of a larger Roozt campaign to harness the power of everyday eCommerce, daily deals, and online shopping to make a difference in the world.
Each month Roozt will feature a new cause, such as Water, Education, Hunger, or Environment that will be the direct beneficiary of customer purchase donations. This program will provide Roozt's customers with an avenue to shop and give back at the same time, making every purchase count. In only its first month the Roozt Cause program has provided over 4,000 days of clean drinking water to school children in rural India.
Roozt.com is capitalizing on the exploding growth of cause-conscious business in the United States, with booming demand from online shoppers--especially Gen Y-- to buy products from these companies. While only 6 months old, Roozt has emerged as an industry leader among Gen Y 18-35 year old online shoppers, growing from 300 to over 50,000 members, while establishing large strategic partnerships with companies like MyCorporation.com and Causecast. Roozt's presence is also being felt on college campuses as a resource on how to build a socially-responsible business.
According to a BusinessWeek 2009 report, there are over 30,000 socially responsible brands in the US alone, a rapidly growing statistic as more companies integrate cause into their business by the day. Gen Y, those born between 1980 and 2000, represent $200B in purchasing power and influence an additional $400B per year in additional spending. Cone Marketing's 2010 'Cause Evolution Study' showed that when a member of Gen Y was given a choice between a brand attached to a cause and an equal non-cause related brand, over 85% would buy from the cause-oriented brand.
Roozt.com is owned by Roozt, Inc. and is headquartered in Los Angeles with Satellite Offices in San Francisco and New Orleans.
To learn more about Roozt, visit http://www.roozt.com.
For more information, contact Norma LaRosa at norma(at)roozt(dot)com or 310.640.3700.