StartFast Venture Accelerator, a Syracuse, NY based startup accelerator and venture capital fund, notes that its portfolio company, SwipeToSpin (www.swipetospin.com) has successfully raised a preferred round of venture capital.
Investments in the company included venture capital funds, private equity funds and angel investors from both Upstate New York and New York City.
Among the factors leading to this financing are:
• The rise of mobile commerce – both tablet and smartphone – is driving the need for 3D interactive product photography
• SwipeToSpin successfully completed the StartFast accelerator program in the summer of 2013 and after Demo Day, receiving a significant investment commitment from StartFast to lead this round.
• SwipeToSpin’s technology has seen significant adoption in both tablet magazine editions and ecommerce settings.
• New partnerships have been developed, including Mag+, a leading tablet magazine publishing platform.
• Additions to the Board of Directors, starting with serial entrepreneur and investor Chuck Stormon, have increased the expertise and profile of the company.
• A SwipeToSpin customer realized an 87% increase in conversion rates in their holiday shopping guide.
“We are pleased with this capital infusion and grateful to the StartFast team for leading this financing round,” said Devin Daly, CEO of SwipeToSpin. “We look forward to a breakout year in 2014.”
“Since meeting the company two years ago, I have seen the SwipeToSpin team both continue to develop their world class 3D software and increase the breadth of markets and deployment to both large and small customers. The business is rapidly growing and demonstrating that its software is a leader in 3D content creation for both the tablet magazine and ecommerce markets,” said Nasir Ali, Managing Director of
StartFast Venture Accelerator LLC. StartFast also has a prior investment in SwipeToSpin.