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§ Private Profile · Miami, FL, USA
Retail tech SaaS platform offering gamified shopping experiences and omnichannel inventory unification for brands and malls.
Based in Miami, Florida, DROPIT is a retail technology company that provides a software-as-a-service platform for omnichannel inventory unification and a mobile application featuring gamified 60-second drop auctions. The enterprise platform enables retailers to sell physical in-store stock digitally while optimizing fulfillment logistics from nearby mall locations to mitigate excess inventory and reduce commercial waste. The company serves major consumer goods and apparel brands, securing customers such as L’Occitane, Abercrombie & Fitch, Estée Lauder, and Razer. DROPIT has raised more than $50 million in total equity funding, which includes a $25 million Series C round in 2022 led by Vault Investments, and previously reached a $21 million valuation in 2019 with a headcount of approximately 22 employees. The organization was founded in 2014 by co-founders Karin Cabili, Brendan Howell, and Peter Howell.
DROPIT has raised $28.6M across 2 funding rounds.
DROPIT has raised $28.6M in total across 2 funding rounds.
DROPIT has raised $28.6M in total across 2 funding rounds.
DROPIT's investors include Vault Investments, Terry Lundgren, Axentia, Sugarbee, Tiga Investments.
DROPIT has raised $28.6M across 2 funding rounds. Most recently, it raised $25.0M Dropit Shopping - Series C in November 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 3, 2022 | $25M Series C | Vault Investments | Terry Lundgren, Axentia, Sugarbee, Tiga Investments | Announced |
| Oct 18, 2017 | $3.6M Series A | — | — | Announced |