The veteran owned ecommerce platform plans to use the financing to expand operations.
Washington, DC (PRWEB) July 26, 2011
Today, TroopSwap.com announced 925k in funding from prominent angel investors. The veteran owned ecommerce platform, which offers daily deals exclusively to military families, plans to use the financing to expand operations from Hampton Roads, Virginia to include Washington DC and San Diego. The financing will also support new additions to the executive team currently led by Blake Hall and Matthew Thompson. Hall and Thompson, both Airborne Rangers, met while at Harvard Business School after combat tours in Iraq and Afghanistan.
CEO Blake Hall said, “Military discounts are commonly offered throughout the country but, until now, those discounts have not caught up with the current revolution in local commerce. This round of funding allows us to open new markets where TroopSwap will feature more military-friendly businesses while furthering our company’s mission: to reward a life of service.”
The company, which straddles the for-profit and non-profit sectors, only employs military spouses in local markets and donates 10% of profits to the Wounded Warrior Project. Beyond deals the site has looked for innovative ways to partner with merchants in order to further their social mission. Skydive Suffolk, the first merchant featured on the site, is shutting down public operations on August 14th in order to participate in a Wounded Warrior Fundraiser organized by TroopSwap.com. Thirty Wounded Warriors from every conflict dating back to the Korean War will have the opportunity to skydive courtesy of corporate and individual sponsors. Similarly, the owner of Tidewater Cleaning Services offered to clean the home of any Wounded Warrior free of charge while running a deal on the platform.
Investors backing the offering include: Andy Dunn, Founder and CEO of Bonobos.com, Frank Monestere, former Green Beret and current President/COO of LegalZoom.com, Paige Craig, former Marine and Founder/CEO of Betterworks.com and Kelly Perdew, former Army Ranger, winner of Season 2 of NBC's The Apprentice, and CEO of FastPointGames.com, Mr. Perdew also serves on the company's board. Previous investors include David Tisch, the Managing Director of TechStars NYC.
Troopswap.com is the first e-commerce platform exclusively for military families. Our mission is to reward a life of service. We limit eligibility to veterans, service members, and their immediate family members. We partner with merchants to provide great deals for the military community. We only employ military spouses in the markets where we are active. 10% of our profits are donated to the Wounded Warrior Project. To learn more, please e-mail: outreach(at)troopswap(dot)com or go to our Facebook page at: Facebook.com/troopswap