Dash.com Receives $12.1 Million to Launch Mobile Shopping Portal
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Dash.com, developer of a mobile shopping portal based on client-side software, said it has received $12.1 million in funding from AT&T Ventures, JP Morgan Investment Corp., Wasserstein Perella Ventures Inc. and Affinity Partners International.
AT&T Ventures is the lead venture firm in the Series A Preferred Financing. Prior to this investment, Dash.com's development had been financed by its five founders and Affinity Partners International, a marketer to affinity groups.
Dash.com said it will use the money to introduce its service offering in the third quarter. Dash.com provides consumers with a personalized, virtual shopping assistant and enables merchants to market to pre-qualified consumers.
The software, which takes less than a minute to download with a 28.8 modem, is in the final stages of consumer testing, the company said, adding that it negotiating exclusive and favorable terms for Dash.com members at various online merchant sites and developing co-branding partnerships with several major affinity groups.