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.
“Dash will become one of the Web’s leading e-commerce transaction
facilitators,” said Brad Burnham, partner at AT&T Ventures. “Dash is the only
company that gives consumers added savings without making them do any extra
work and at the same time reduces marketing costs for online merchants. We
believe Dash has the potential to change the landscape of Internet marketing.”