Leading Nift’s A Series

Opening a small business has proven to be increasingly difficult as internet behemoths account for significant percentages of U.S. retail sales — yet small businesses still make up half of the U.S. economy. Young people are moving to cities at an unprecedented rate and despite the growth of e-commerce, niche retail and high-touch experiences remain a top priority for city dwellers.

As a firm founded in Boston (a city rich in local experiences) Nift’s mission resonated deeply with us: empower small businesses with a free machine learning platform that matches the right neighborhood gift to the right customer in seconds. The system works through neighborhood gift cards or “nifts”, helping businesses get discovered, build affinity, and bring quality customers in the door. Ultimately, Nift is helping to foster healthy local business ecosystems.

Nift’s CEO and founder, Elery Pfeffer, is a startup veteran and Harvard data scientist with a passion for strengthening and revitalizing local communities. He’s assembled a team of top talent from MIT, along with brand-building and digital consumer experience experts to build the Nift platform, which has seen impressive adoption over the past three years.

Since launching Nift in 2014, 250,000 customers have used over 500,000 Nift cards in the greater Boston area, with similar success in Providence and Washington D.C. as well.

We’re proud to be co-leading Nift’s Series A financing along with Foundry Group and Accomplice. We’re excited to work with Nift as they expand nationally, further fueling the growth of local economies and enriching communities.