Japan's Rakuten leads $23m Series B round for e-commerce app Slice
Rakuten Group - Japan's largest e-commerce firm - has led a $23 million financing round for the Silicon Valley-based start-up behind online shopping app Slice.
Russia Partners, a unit of New York PE firm Siguler Guff & Co, and NPD Group also joined the round along with existing investors DCM, Innovation Endeavors and Lightspeed Ventures.
Slice launched its flagship app in 2011. The app allows users to track all their online purchases by analyzing their email account and sending push notifications when packages are en route for delivery. The company claims to have processed more than 90 million items since inception, for a total purchase value of nearly $3 billion.
Slice has also launched Slice Bookshelf which syncs with the user's inbox to pull information on past book purchases.
"Our massive growth over the past two years topped off with this round of financing validates our vision to solve consumer needs with services that go far beyond their expectations," Scott Brady, Slice CEO and co-founder, said in a statement.
The company plans to use the extra capital to improve on its products, expand its team and extend its application program interface to more partners.
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