Spring Gets $25M in New Funding

WWD

Mobile marketplace Spring is gaining traction with some big-name investors and just raised $25 million to help scale up its business.

Spring was one of the most buzzed-about app launches last summer, viewed largely by the industry as a “shoppable Instagram” that enabled consumers to purchase from a photo-driven, mobile experience.

The latest round was led by Box Group, Spring cofounder and chairman David Tisch’s venture fund, and included participation from Silas Chou, the Arnault family’s private equity arm Groupe Arnault, Google Ventures, Thrive Capital, Wendi Deng Murdoch, Yuri Milner and Ashton Kutcher’s Sound Ventures.

Along with Tisch, the founding team — chief executive officer Alan Tisch, chief marketing officer Ara Katz and chief technology officer Octavian Costache — raised $7.5 million prior to launch, bringing funding to date to $32.5 million.

Spring began as an iOS, mobile-only marketplace, but will also expand its product to Android devices today and…

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