We recently wrote about a new startup operating in the social commerce space, called ShopSocially. Founded in late 2009 by entrepreneurs Jai Rawat and Samir Palnitkar, ShopSocially’s tagline is “where friends help friends shop” as the site taps into your social graph (on Twitter and Facebook) for product recommendations.
The company this morning announced that it secured $1.1 million in Series A financing led by Valhalla Partners, with additional participation from angel investor Raman Khanna, Ashish Gupta and Dharmesh Thakker.
ShopSocially is essentially a site for friends to exchange shopping recommendations and discover new products. According to the company, more than 10,000 product recommendations have been created by friends in a few months since its launch.
ShopSocially is a comprehensive, ROI driven social commerce platform for retailers that are serious about social commerce. ShopSocially’s suite of applications can be used to achieve significant improvement across all key metrics including onsite conversion, new customer acquisition, discovery, engagement, and word-of-mouth brand amplification. Launched in Oct 2010, ShopSocially is a privately held company in Mountain View, CA.