Yipit Raises $6 Million More to Aggregate Daily Deals
New York’s Yipit, an aggregator of daily deals, said it raised $6 million in a Series B funding round led by Highland Capital Partners, based in the Boston area. The news was first reported by TechCrunch.
Vinicius Vacanti, co-founder of Yipit, said existing investors RRE Ventures, DFJ Gotham Ventures, and IA Ventures also participated in the round. He said his company will use some of the funding for new hires in technology, expanding the staff from seven to 30 over the next year. Vacanti also said Yipit plans to move out of the General Assembly incubator and is looking for office space to accommodate 30 to 50 people in Manhattan.
Yipit tracks daily deal services, such as LivingSocial, BuyWithMe, Groupon, and Yelp, in 32 cities across North America. The company aggregates the deals in one location, and users can filter them based on their interests. Xconomy’s Erin Kutz profiled Yipit back in April. The startup previously raised $1.3 million last year.
Yipit has 250,000 users, up from 25,000 one year ago, Vacanti said.