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Token.ai Receives $2.5M

2017-04-27
NEW YORK, NY, Token.ai, a personal gifting platform, raised $2.5 million in funding.
Token recently launched its premium gift-giving mobile app, which uniquely combines artificial intelligence with personal curation to help shoppers find the perfect gift. Headquartered in New York City, the company's dedicated team of experts and proprietary A.I. platform recommend and deliver tailored presents, on-demand, as well as for future occasions.

"Gift-giving in the US is a $131 billion dollar market, yet until now, the experience has been overwhelmingly painful and time-intensive," said Jonathan Jarvis, Token CEO and Co-Founder. "Token is the first platform that brings end-to-end assistance to gift giving -- from reminding you to send the gift in the first place, to selecting the right item, to delivering it in beautiful wrapping. Leveraging our talented gift curators and specialized A.I. platform, we make it easy to give something that's creatively thoughtful, unique, and unforgettable."

Shoppers who download the free mobile app can describe their needs, such as gift occasion, who it's for, style, and budget. From there, Token's team of gift curators -- who have been trained in etiquette, cultural traditions and industry trends -- leverage the A.I. insights to make recommendations, ranging from well-known brands to undiscovered local experiences. Every hand-picked "Token" is expertly wrapped and shipped, accompanied by a handwritten card.
"In today's era of immediate gratification, no one has time to say happy birthday, thanks, or congratulations in a meaningful or creative way," said Jarvis. "We encourage those shoppers -- most of whom are successful and relationship-driven -- to let our technology and team do the heavy-lifting, so that instead of sending a text, they send a memorable Token."

Token also announces today that is has secured $2.5 million in seed funding in a round led by Upfront Ventures. Other investors include Slow Ventures and Human Ventures.

Since rolling out in beta a few months ago, Token has seen 30% conversion rates from consumers, most of whom used Token to handle both their holiday and professional gifting. For more information, visit token.ai.

About Token:
Based in New York City, Token launched in 2016 and is backed by investors including Upfront Ventures, Slow Ventures and Human Ventures. A simple, sophisticated way to give thoughtful gifts, their mission is to make the world a more generous place by transforming the way we buy things and show appreciation. Download the free iOS app and follow Token on Instagram, Twitter, Facebook, and LinkedIn.
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